Proficio Capital Partners LLC Invests $2.46 Million in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Proficio Capital Partners LLC bought a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,149 shares of the company's stock, valued at approximately $2,463,000. Proficio Capital Partners LLC owned approximately 0.11% of Spectrum Brands at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Citigroup Inc. lifted its position in shares of Spectrum Brands by 15.9% in the third quarter. Citigroup Inc. now owns 41,048 shares of the company's stock worth $3,905,000 after buying an additional 5,641 shares in the last quarter. Empowered Funds LLC purchased a new stake in Spectrum Brands during the fourth quarter valued at approximately $387,000. Charles Schwab Investment Management Inc. raised its position in Spectrum Brands by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after purchasing an additional 7,198 shares during the period. Everence Capital Management Inc. purchased a new stake in Spectrum Brands during the fourth quarter valued at approximately $553,000. Finally, SG Americas Securities LLC raised its position in Spectrum Brands by 478.4% during 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 period.

Spectrum Brands Stock Down 0.8 %

NYSE SPB traded down $0.57 during midday trading on Friday, hitting $69.50. 986,162 shares of the company traded hands, compared to its average volume of 377,806. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The company has a market cap of $1.83 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The company's 50-day simple moving average is $78.82 and its 200-day simple moving average is $86.32. Spectrum Brands Holdings, Inc. has a 52 week low of $68.74 and a 52 week high of $96.74.

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Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $0.78 EPS. As a group, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 annualized dividend and a yield of 2.71%. Spectrum Brands's dividend payout ratio (DPR) is presently 46.19%.

Wall Street Analysts Forecast Growth

SPB has been the topic of several recent analyst reports. Royal Bank of Canada reduced their price target on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. UBS Group reduced their price target on 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 reduced their price target on Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and increased their price objective for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $103.43.

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.