Jane Street Group LLC Cuts Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Jane Street Group LLC decreased its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 36.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,223 shares of the company's stock after selling 22,073 shares during the period. Jane Street Group LLC owned about 0.14% of Spectrum Brands worth $3,732,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in Spectrum Brands by 7.6% in the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company's stock valued at $48,809,000 after acquiring an additional 36,063 shares in the last quarter. State Street Corp increased its position in shares of Spectrum Brands by 1.3% in the 3rd quarter. State Street Corp now owns 590,222 shares of the company's stock valued at $56,154,000 after purchasing an additional 7,783 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of Spectrum Brands by 7.5% in the 3rd quarter. Systematic Financial Management LP now owns 346,005 shares of the company's stock valued at $32,919,000 after purchasing an additional 24,083 shares in the last quarter. Quarry LP lifted its position in shares of Spectrum Brands by 70.9% during the 3rd quarter. Quarry LP now owns 974 shares of the company's stock worth $93,000 after purchasing an additional 404 shares during the last quarter. Finally, Point72 DIFC Ltd grew its stake in shares of Spectrum Brands by 2,137.5% during the third quarter. Point72 DIFC Ltd now owns 6,198 shares of the company's stock worth $590,000 after purchasing an additional 5,921 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $102.38.

Spectrum Brands Price Performance

Spectrum Brands stock traded down $0.13 during trading hours on Friday, hitting $85.43. The stock had a trading volume of 520,678 shares, compared to its average volume of 386,181. Spectrum Brands Holdings, Inc. has a 1-year low of $75.50 and a 1-year high of $96.74. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.58 and a beta of 1.19. The stock's fifty day moving average is $91.25 and its two-hundred day moving average is $89.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The business had revenue of $773.70 million during the quarter, compared to analysts' expectations of $747.80 million. During the same period last year, the company earned $1.36 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts predict that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th were paid a dividend of $0.47 per share. This is a boost from Spectrum Brands's previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Tuesday, November 26th. Spectrum Brands's dividend payout ratio (DPR) is currently 46.08%.

Spectrum Brands 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.