Hsbc Holdings PLC increased its holdings in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 206.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,554 shares of the company’s stock after purchasing an additional 16,552 shares during the period. Hsbc Holdings PLC’s holdings in Spectrum Brands were worth $1,038,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Vanguard Group Inc increased its holdings in shares of Spectrum Brands by 115.8% in the 3rd quarter. Vanguard Group Inc now owns 3,759,477 shares of the company’s stock valued at $280,909,000 after purchasing an additional 2,017,489 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Spectrum Brands by 115.8% during the third quarter. Vanguard Group Inc. now owns 3,759,477 shares of the company’s stock worth $280,909,000 after buying an additional 2,017,489 shares in the last quarter. FMR LLC grew its holdings in shares of Spectrum Brands by 26.3% during the third quarter. FMR LLC now owns 8,011,307 shares of the company’s stock worth $598,605,000 after buying an additional 1,670,550 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Spectrum Brands by 95.2% during the third quarter. BlackRock Inc. now owns 1,773,507 shares of the company’s stock worth $132,517,000 after buying an additional 865,154 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new stake in shares of Spectrum Brands during the third quarter worth about $43,069,000.
SPB has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Spectrum Brands from a “hold” rating to a “strong sell” rating in a report on Monday, January 21st. Bank of America raised shares of Spectrum Brands from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $65.00 in a research report on Friday, January 18th. CIBC reissued a “buy” rating and issued a $14.50 target price on shares of Spectrum Brands in a research report on Thursday, January 10th. ValuEngine cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Deutsche Bank lifted their price target on shares of Spectrum Brands from $52.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Spectrum Brands currently has an average rating of “Buy” and a consensus price target of $59.65.
Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.60). Spectrum Brands had a net margin of 3.32% and a return on equity of 3.24%. The business had revenue of $874.60 million for the quarter, compared to the consensus estimate of $910.97 million. During the same quarter in the previous year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 35.5% on a year-over-year basis. As a group, equities research analysts forecast that Spectrum Brands Holdings Inc will post 2.46 EPS for the current fiscal year.
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About Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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