Gabelli Funds LLC Has $22.90 Million Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Gabelli Funds LLC reduced its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 271,027 shares of the company’s stock after selling 8,135 shares during the period. Gabelli Funds LLC’s holdings in Spectrum Brands were worth $22,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPB. Charles Schwab Investment Management Inc. lifted its stake in shares of Spectrum Brands by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock worth $38,089,000 after acquiring an additional 7,198 shares during the period. Empowered Funds LLC bought a new position in Spectrum Brands during the 4th quarter worth approximately $387,000. Everence Capital Management Inc. acquired a new position in shares of Spectrum Brands in the 4th quarter worth approximately $553,000. SG Americas Securities LLC boosted its stake in shares of Spectrum Brands by 478.4% in the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock valued at $1,141,000 after purchasing an additional 11,166 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Spectrum Brands during the fourth quarter worth $16,606,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on SPB shares. UBS Group dropped their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company dropped their price objective on Spectrum Brands from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Royal Bank of Canada decreased their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price target for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $101.57.

Spectrum Brands Stock Performance

Shares of SPB opened at $60.41 on Wednesday. Spectrum Brands Holdings, Inc. has a one year low of $57.93 and a one year high of $96.74. The company has a market cap of $1.59 billion, a PE ratio of 14.84, a P/E/G ratio of 1.70 and a beta of 1.03. The stock has a 50-day moving average of $71.69 and a 200-day moving average of $82.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the previous year, the firm earned $0.78 earnings per share. On average, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 3.11%. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.19%.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.