Jupiter Topco LLC Makes New $756,000 Investment in Spectrum Brands Holdings Inc. $SPB

Jupiter Topco LLC purchased a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,808 shares of the company’s stock, valued at approximately $756,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC bought a new position in shares of Spectrum Brands in the second quarter valued at about $207,584,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Spectrum Brands by 374,119.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after buying an additional 2,196,079 shares during the period. Callodine Capital Management LP boosted its holdings in shares of Spectrum Brands by 20.4% during the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock worth $122,013,000 after buying an additional 350,261 shares during the period. BlackRock Inc. acquired a new position in Spectrum Brands in the 2nd quarter valued at about $166,197,000. Finally, LSV Asset Management grew its stake in Spectrum Brands by 2.9% in the 4th quarter. LSV Asset Management now owns 602,980 shares of the company’s stock valued at $35,624,000 after buying an additional 17,100 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada downgraded shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $85.00 to $92.00 in a research report on Monday, August 10th. Canaccord Genuity Group upped their target price on Spectrum Brands from $99.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $96.00 target price on shares of Spectrum Brands in a research note on Monday, August 10th. Weiss Ratings downgraded Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer upped their price objective on Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.83.

Spectrum Brands Stock Performance

Shares of NYSE:SPB opened at $88.70 on Monday. The company’s 50 day moving average price is $87.60 and its two-hundred day moving average price is $82.03. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $99.06. The firm has a market cap of $2.04 billion, a PE ratio of 27.04, a PEG ratio of 2.79 and a beta of 0.65. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. The company had revenue of $753.30 million during the quarter, compared to the consensus estimate of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. Equities research analysts predict that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 annualized dividend and a yield of 2.1%. Spectrum Brands’s payout ratio is currently 57.32%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.