Alliancebernstein L.P. Sells 195,111 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Alliancebernstein L.P. cut its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,175 shares of the company's stock after selling 195,111 shares during the quarter. Alliancebernstein L.P. owned approximately 0.43% of Spectrum Brands worth $9,816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in 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 stake in shares of Spectrum Brands in the 4th quarter worth approximately $387,000. Everence Capital Management Inc. bought a new stake in shares of Spectrum Brands in the 4th quarter worth approximately $553,000. SG Americas Securities LLC lifted its stake in Spectrum Brands by 478.4% in the fourth 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 bought a new position in Spectrum Brands during the fourth quarter valued at $16,606,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPB. Royal Bank of Canada lowered their target price on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and boosted their price objective for the company from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group dropped their price objective 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. Finally, Wells Fargo & Company reduced their target price on shares of Spectrum Brands from $80.00 to $75.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $101.57.

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Spectrum Brands Price Performance

Shares of SPB traded down $1.15 during midday trading on Tuesday, hitting $60.19. 158,247 shares of the company traded hands, compared to its average volume of 401,943. The stock has a 50-day moving average of $72.01 and a 200-day moving average of $82.97. 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 Holdings, Inc. has a one year low of $57.93 and a one year high of $96.74. The firm has a market cap of $1.58 billion, a P/E ratio of 14.79, a PEG ratio of 1.70 and a beta of 1.03.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period in the previous year, the firm posted $0.78 EPS. As a group, sell-side analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. Spectrum Brands's dividend payout ratio is currently 46.19%.

Spectrum Brands Company Profile

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.