JPMorgan Chase & Co. Sells 15,230 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

JPMorgan Chase & Co. lowered its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,363 shares of the company's stock after selling 15,230 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.28% of Spectrum Brands worth $7,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SPB. Allspring Global Investments Holdings LLC increased its holdings in Spectrum Brands by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company's stock valued at $201,707,000 after buying an additional 112,530 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Spectrum Brands by 10.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company's stock valued at $124,715,000 after acquiring an additional 123,733 shares during the period. State Street Corp increased its stake 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 worth $56,154,000 after purchasing an additional 7,783 shares in the last quarter. Wellington Management Group LLP raised its holdings in Spectrum Brands by 7.6% in the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company's stock worth $48,809,000 after purchasing an additional 36,063 shares during the period. Finally, Armistice Capital LLC raised its holdings in Spectrum Brands by 129.4% in the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company's stock worth $37,756,000 after purchasing an additional 247,809 shares during the period.

Spectrum Brands Price Performance

Shares of NYSE SPB traded up $1.05 during mid-day trading on Wednesday, reaching $85.20. The company's stock had a trading volume of 314,988 shares, compared to its average volume of 344,587. The stock has a fifty day moving average of $88.98 and a two-hundred day moving average of $89.08. The firm has a market capitalization of $2.39 billion, a PE ratio of 20.88, a P/E/G ratio of 1.58 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a 52 week low of $75.50 and a 52 week high of $96.74. 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 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The firm had revenue of $773.70 million for the quarter, compared to the consensus estimate of $747.80 million. During the same period in the previous year, the company posted $1.36 earnings per share. Spectrum Brands's quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, November 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. This is an increase from Spectrum Brands's previous quarterly dividend of $0.42. Spectrum Brands's payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company reduced their price target on Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Canaccord Genuity Group boosted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Spectrum Brands has a consensus rating of "Moderate Buy" and an average price target of $102.13.

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.