West Oak Capital LLC Sells 5,093 Shares of Spectrum Brands Holdings Inc. $SPB

West Oak Capital LLC lowered its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 17.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,840 shares of the company’s stock after selling 5,093 shares during the period. West Oak Capital LLC owned 0.10% of Spectrum Brands worth $1,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Spectrum Brands by 120.3% in the second quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Spectrum Brands by 101.7% in the first quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock valued at $69,000 after purchasing an additional 489 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Spectrum Brands during the first quarter valued at approximately $118,000. Quarry LP bought a new stake in Spectrum Brands during the first quarter worth $157,000. Finally, Amundi purchased a new stake in Spectrum Brands in the 1st quarter valued at $176,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPB. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the stock an “outperform” rating in a report on Monday, August 11th. Wells Fargo & Company cut their price target on shares of Spectrum Brands from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 9th. Canaccord Genuity Group decreased their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.80.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $52.20 on Tuesday. The stock has a market cap of $1.26 billion, a PE ratio of 19.48 and a beta of 0.83. Spectrum Brands Holdings Inc. has a fifty-two week low of $50.73 and a fifty-two week high of $96.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The stock has a fifty day moving average of $55.64 and a 200-day moving average of $59.26.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). The company had revenue of $699.60 million during the quarter, compared to analysts’ expectations of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. Spectrum Brands’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 earnings per share. Equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be given a $0.47 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 3.6%. Spectrum Brands’s payout ratio is 70.15%.

Spectrum Brands Company 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.