On March 30, 2023,
Canaccord Genuity
initiated coverage of Spectrum Brands Holdings with
a Buy recommendation.
Analyst Price Forecast Suggests 27.12% Upside
As of March 30, 2023,
the average one-year price target for Spectrum Brands Holdings is $81.60.
The forecasts range from a low of $69.69 to a high of $115.50.
The average price target represents an increase of 27.12% from its latest reported closing price of $64.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Spectrum Brands Holdings
is $3,195MM, an increase of 3.44%.
The projected annual non-GAAP EPS
is $1.83.
Spectrum Brands Holdings Declares $0.42 Dividend
On February 8, 2023 the company declared a regular
quarterly dividend of $0.42 per share ($1.68 annualized).
Shareholders of record as of February 21, 2023
received the payment on March 14, 2023.
Previously, the company paid $0.42 per share.
At the current share price of $64.19 / share,
the stock’s dividend yield is 2.62%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.64%,
the lowest has been 1.58%,
and the highest has been 6.45%.
The standard deviation of yields is 0.75 (n=236).
The current dividend yield is
0.03 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 1.62.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What are Large Shareholders Doing?
American Century Companies
holds 2,459K shares
representing 6.00% ownership of the company.
In it’s prior filing, the firm reported owning 2,396K shares, representing
an increase
of 2.55%.
The firm
decreased
its portfolio allocation in SPB by 99.85% over the last quarter.
VGTSX – Vanguard Total International Stock Index Fund Investor Shares
holds 2,223K shares
representing 5.42% ownership of the company.
In it’s prior filing, the firm reported owning 1,950K shares, representing
an increase
of 12.26%.
The firm
increased
its portfolio allocation in SPB by 6.43% over the last quarter.
Allspring Global Investments Holdings
holds 2,035K shares
representing 4.96% ownership of the company.
In it’s prior filing, the firm reported owning 2,275K shares, representing
a decrease
of 11.79%.
The firm
increased
its portfolio allocation in SPB by 34.61% over the last quarter.
ASVIX – Small Cap Value Fund Investor Class
holds 2,005K shares
representing 4.89% ownership of the company.
In it’s prior filing, the firm reported owning 1,950K shares, representing
an increase
of 2.74%.
The firm
increased
its portfolio allocation in SPB by 51.38% over the last quarter.
Invesco
holds 1,962K shares
representing 4.79% ownership of the company.
In it’s prior filing, the firm reported owning 1,206K shares, representing
an increase
of 38.54%.
The firm
decreased
its portfolio allocation in SPB by 99.98% over the last quarter.
What is the Fund Sentiment?
There are 606 funds or institutions reporting positions in Spectrum Brands Holdings.
This is a decrease
of
22
owner(s) or 3.50% in the last quarter.
Average portfolio weight of all funds dedicated to SPB is 0.28%,
an increase
of 23.11%.
Total shares owned by institutions increased
in the last three months by 1.82% to 50,010K shares.
The put/call ratio of SPB is 0.46, indicating a
bullish
outlook.
Spectrum Brands Holdings Background Information
(This description is provided by the company.)
Spectrum Brands Holdings, a member of the Russell 1000 Index, is a leading supplier of residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect repellents. Helping to meet the needs of consumers worldwide, Spectrum Brands offers a broad portfolio of market-leading, well-known and widely trusted brands including Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister®, Remington®, George Foreman®, Russell Hobbs®, Black+Decker®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, IAMS® and Eukanuba® (Europe only), Digest-eeze™, Healthy-Hide®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag® and Liquid Fence®.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
