Wells Fargo & Company MN grew its holdings in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 18.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,586,483 shares of the company’s stock after buying an additional 403,810 shares during the period. Wells Fargo & Company MN owned 4.84% of Spectrum Brands worth $193,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in SPB. FMR LLC lifted its holdings in Spectrum Brands by 149.0% during the 2nd quarter. FMR LLC now owns 6,340,757 shares of the company’s stock worth $517,533,000 after buying an additional 3,793,831 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Spectrum Brands during the 2nd quarter worth about $107,639,000. Schroder Investment Management Group lifted its holdings in Spectrum Brands by 171.2% during the 2nd quarter. Schroder Investment Management Group now owns 2,053,842 shares of the company’s stock worth $106,533,000 after buying an additional 1,296,429 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in Spectrum Brands during the 2nd quarter worth about $84,265,000. Finally, First Manhattan Co. increased its position in shares of Spectrum Brands by 702.7% during the third quarter. First Manhattan Co. now owns 759,015 shares of the company’s stock worth $56,713,000 after purchasing an additional 664,463 shares in the last quarter.
SPB has been the topic of a number of research analyst reports. ValuEngine upgraded Spectrum Brands from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Bank of America cut their target price on Spectrum Brands from $91.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, October 4th. Zacks Investment Research cut Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. TheStreet cut Spectrum Brands from a “b-” rating to a “c+” rating in a research report on Friday, September 28th. Finally, Wells Fargo & Co cut their target price on Spectrum Brands from $85.00 to $75.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Spectrum Brands currently has a consensus rating of “Buy” and an average price target of $118.45.
About Spectrum Brands
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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