3,764 Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB) Purchased by Bayesian Capital Management LP

Bayesian Capital Management LP acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,764 shares of the company’s stock, valued at approximately $335,000.

A number of other hedge funds have also modified their holdings of the company. First Eagle Investment Management LLC acquired a new position in Spectrum Brands during the fourth quarter valued at approximately $3,949,000. Great Lakes Advisors LLC boosted its position in Spectrum Brands by 50.0% during the fourth quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock valued at $25,878,000 after purchasing an additional 108,076 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Spectrum Brands by 1,615.8% during the first quarter. BNP Paribas Financial Markets now owns 55,831 shares of the company’s stock valued at $4,970,000 after purchasing an additional 52,577 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Spectrum Brands during the fourth quarter valued at approximately $1,424,000. Finally, Redwood Investment Management LLC boosted its position in Spectrum Brands by 273.6% during the fourth quarter. Redwood Investment Management LLC now owns 76,092 shares of the company’s stock valued at $6,070,000 after purchasing an additional 55,727 shares during the last quarter.

Spectrum Brands Stock Performance

NYSE:SPB opened at $84.61 on Thursday. The stock has a market cap of $2.37 billion, a P/E ratio of 1.71, a PEG ratio of 0.37 and a beta of 1.19. The stock has a 50 day simple moving average of $86.99 and a 200 day simple moving average of $84.79. The company has a current ratio of 3.73, a quick ratio of 3.05 and a debt-to-equity ratio of 0.61. Spectrum Brands Holdings, Inc. has a 1-year low of $65.27 and a 1-year high of $96.74.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $1.13. The business had revenue of $718.50 million during the quarter, compared to analysts’ expectations of $708.54 million. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) EPS. Research analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, May 28th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.68 annualized dividend and a yield of 1.99%. Spectrum Brands’s payout ratio is currently 3.40%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SPB shares. Royal Bank of Canada reissued an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a research report on Friday, June 7th. Canaccord Genuity Group cut their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 1st. Wells Fargo & Company cut their price objective on Spectrum Brands from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Oppenheimer raised their price objective on Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Spectrum Brands has a consensus rating of “Hold” and an average price target of $98.43.

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.