Covey Capital Advisors LLC Purchases Shares of 19,750 Spectrum Brands Holdings, Inc. (NYSE:SPB)

Covey Capital Advisors LLC bought a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,750 shares of the company’s stock, valued at approximately $2,220,000. Spectrum Brands accounts for approximately 2.9% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds have also recently made changes to their positions in the business. Toronto Dominion Bank increased its holdings in Spectrum Brands by 244.3% during the 3rd quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock valued at $119,000 after purchasing an additional 794 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Spectrum Brands during the 4th quarter valued at $202,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Spectrum Brands in the 3rd quarter valued at $214,000. Commerce Bank increased its stake in shares of Spectrum Brands by 32.4% in the 3rd quarter. Commerce Bank now owns 3,045 shares of the company’s stock valued at $323,000 after buying an additional 745 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Spectrum Brands in the 3rd quarter worth $323,000. Institutional investors own 47.27% of the company’s stock.

Shares of Spectrum Brands Holdings, Inc. (SPB) opened at $105.53 on Thursday. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.70 and a quick ratio of 2.19. The stock has a market capitalization of $5,929.84, a P/E ratio of 22.13, a P/E/G ratio of 1.95 and a beta of 0.69. Spectrum Brands Holdings, Inc. has a 12 month low of $98.11 and a 12 month high of $146.09.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.12. Spectrum Brands had a return on equity of 14.51% and a net margin of 8.80%. The business had revenue of $646.50 million during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. research analysts predict that Spectrum Brands Holdings, Inc. will post 4.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, February 16th. Spectrum Brands’s payout ratio is presently 25.04%.

SPB has been the topic of several recent research reports. UBS Group raised their price target on Spectrum Brands from $124.00 to $140.00 in a research report on Tuesday, January 16th. BMO Capital Markets set a $132.00 target price on Spectrum Brands and gave the stock a “buy” rating in a report on Friday, November 17th. KeyCorp set a $130.00 target price on Spectrum Brands and gave the stock a “buy” rating in a report on Friday, November 17th. Gabelli upgraded Spectrum Brands from a “hold” rating to a “buy” rating in a report on Friday, November 17th. Finally, Jefferies Group reissued a “buy” rating and set a $142.00 price target on shares of Spectrum Brands in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Spectrum Brands has an average rating of “Buy” and an average target price of $141.80.

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About Spectrum Brands

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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