Highland Capital Management LLC cut its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 34.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,072 shares of the company’s stock after selling 2,719 shares during the period. Highland Capital Management LLC’s holdings in Spectrum Brands Holdings were worth $634,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Spectrum Brands Holdings by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,020,401 shares of the company’s stock worth $280,856,000 after buying an additional 32,915 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Spectrum Brands Holdings by 21.0% in the first quarter. JPMorgan Chase & Co. now owns 1,614,442 shares of the company’s stock worth $224,423,000 after buying an additional 280,396 shares in the last quarter. BlackRock Inc. raised its position in shares of Spectrum Brands Holdings by 5,054.7% in the first quarter. BlackRock Inc. now owns 1,208,769 shares of the company’s stock worth $168,030,000 after buying an additional 1,185,319 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Spectrum Brands Holdings by 15.1% in the first quarter. Acadian Asset Management LLC now owns 1,132,417 shares of the company’s stock worth $157,414,000 after buying an additional 148,833 shares in the last quarter. Finally, Brahman Capital Corp. raised its position in shares of Spectrum Brands Holdings by 0.3% in the first quarter. Brahman Capital Corp. now owns 1,030,503 shares of the company’s stock worth $143,250,000 after buying an additional 3,035 shares in the last quarter. Institutional investors and hedge funds own 47.96% of the company’s stock.
Shares of Spectrum Brands Holdings, Inc. (NYSE SPB) traded down 0.81% during trading on Friday, hitting $124.13. The stock had a trading volume of 344,716 shares. The company has a market cap of $7.30 billion, a PE ratio of 23.45 and a beta of 0.69. The stock has a 50 day moving average of $128.27 and a 200 day moving average of $132.51. Spectrum Brands Holdings, Inc. has a 12 month low of $113.95 and a 12 month high of $146.09.
Spectrum Brands Holdings (NYSE:SPB) last issued its earnings results on Tuesday, May 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by $0.07. Spectrum Brands Holdings had a return on equity of 17.78% and a net margin of 6.31%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm posted $1.16 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts forecast that Spectrum Brands Holdings, Inc. will post $5.84 EPS for the current fiscal year.
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SPB has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Spectrum Brands Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Royal Bank Of Canada reiterated a “buy” rating and set a $160.00 price objective on shares of Spectrum Brands Holdings in a research report on Thursday, May 25th. Jefferies Group LLC reiterated a “buy” rating and set a $167.00 price objective on shares of Spectrum Brands Holdings in a research report on Tuesday, May 2nd. BidaskClub lowered Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Deutsche Bank AG reduced their price objective on Spectrum Brands Holdings from $152.00 to $149.00 and set a “buy” rating on the stock in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $149.50.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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