Swiss National Bank has decreased its stake in Energizer Holdings, Inc. (NYSE:ENR) by 1.0% during the first quarter of 2023. According to its latest 13F filing with the Securities and Exchange Commission (SEC), the bank now holds 125,725 shares of the company, having sold 1,300 shares in the process. As of the most recent reporting period, its holdings are valued at approximately $3.76 million, representing 0.17% of Energizer’s total shares.
Other institutional investors have also adjusted their positions in Energizer. Principal Financial Group Inc. increased its holdings by 1.5%, now owning 907,826 shares valued at $27.16 million after acquiring an additional 13,453 shares. Nuveen Asset Management LLC raised its stake by a significant 17.7% in the fourth quarter, now holding 303,549 shares worth $10.59 million following a purchase of 45,638 shares.
Additionally, UBS Asset Management Americas LLC boosted its investment by 18.1%, bringing its total to 163,876 shares valued at $5.72 million. GAMMA Investing LLC made a notable increase of 2,354.4% in the first quarter, now owning 18,850 shares valued at $564,000. Overall, institutional investors hold approximately 93.74% of Energizer’s stock.
Recent Performance of Energizer Holdings
Energizer’s shares opened at $28.48 on Thursday, marking a slight increase of 0.2%. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 8.21, and a beta of 0.63. Its 50-day moving average stands at $23.52, while the 200-day moving average is $26.09. Over the past year, Energizer’s stock has experienced a low of $19.70 and a high of $39.51. Key financial ratios indicate a quick ratio of 0.84, a current ratio of 1.78, and a debt-to-equity ratio of 17.57.
On August 4, 2023, Energizer reported its quarterly earnings, revealing earnings per share of $1.13, surpassing analysts’ estimates of $0.61 by $0.52. The company’s revenue for the quarter was $725.30 million, exceeding the consensus estimate of $692.67 million. Energizer achieved a net margin of 8.60% and a remarkable return on equity of 181.90%. Revenue increased by 3.4% compared to the same quarter last year, where it had earnings of $0.79 per share.
For the upcoming fourth quarter of 2025, Energizer has set guidance at $1.050 to $1.150 earnings per share. Analysts predict an earnings per share of $3.58 for the current fiscal year.
Dividend Announcement and Analyst Ratings
Energizer also recently announced a quarterly dividend of $0.30 per share, scheduled for payment on September 10, 2023. Investors of record on August 21, 2023, will qualify for this dividend. The annualized dividend of $1.20 results in a yield of 4.2%, with a dividend payout ratio of 34.58%.
Analyst sentiment around Energizer remains varied. Truist Financial raised its target price from $30.00 to $35.00 and assigned a “buy” rating. JPMorgan Chase & Co. increased its target from $27.00 to $28.00, rating the stock as “neutral.” Wall Street Zen upgraded Energizer from a “hold” to a “buy” rating, while Barclays increased its target from $24.00 to $27.00, maintaining an “equal weight” rating. UBS Group confirmed a “neutral” rating and raised its price target to $29.00 from $23.00.
Currently, one analyst rates Energizer as a “buy,” while six others maintain a “hold” rating, resulting in an average rating of “hold” with a target price of $31.43 according to data from MarketBeat.
Energizer Holdings, Inc., along with its subsidiaries, manufactures, markets, and distributes various household batteries and lighting products globally. The company offers several battery types under well-known brands such as Energizer, Eveready, and Rayovac.
