Seven Eight Capital LP Buys 30,547 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Seven Eight Capital LP boosted its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 770.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,514 shares of the company’s stock after buying an additional 30,547 shares during the quarter. Seven Eight Capital LP owned approximately 0.12% of Spectrum Brands worth $2,966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. Fidelis Capital Partners LLC purchased a new position in shares of Spectrum Brands during the first quarter worth approximately $27,000. Central Pacific Bank Trust Division bought a new stake in Spectrum Brands during the 1st quarter valued at $30,000. Versant Capital Management Inc lifted its holdings in shares of Spectrum Brands by 1,923.8% in the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after buying an additional 404 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Spectrum Brands in the 1st quarter valued at about $42,000. Finally, Headlands Technologies LLC bought a new position in shares of Spectrum Brands during the second quarter valued at approximately $50,000.

Spectrum Brands Stock Down 1.2 %

NYSE:SPB opened at $91.79 on Wednesday. The company’s 50 day moving average is $88.15 and its two-hundred day moving average is $87.03. The company has a market cap of $2.57 billion, a PE ratio of 1.86, a P/E/G ratio of 0.33 and a beta of 1.22. Spectrum Brands Holdings, Inc. has a twelve month low of $65.27 and a twelve month high of $96.74. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.25). The firm had revenue of $779.40 million during the quarter, compared to analyst estimates of $750.97 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. Spectrum Brands’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share. Analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th will be given a $0.42 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.83%. Spectrum Brands’s dividend payout ratio is currently 3.40%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. UBS Group boosted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group dropped their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 1st. 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company increased their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $101.88.

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.