American Century Cuts Spectrum Brands Stake to 7.0%

TL;DR

**American Century just trimmed its Spectrum Brands stake to 7.0%, watch for potential stock weakness.**

AI Summary

American Century Investment Management Inc. filed an amended Schedule 13G/A on February 12, 2024, disclosing its ownership in Spectrum Brands Holdings, Inc. As of December 31, 2023, American Century beneficially owned 2,668,542 shares of common stock, representing 7.0% of the company's outstanding shares. This is a decrease from their previous reported ownership, indicating they have sold a portion of their stake. This matters to investors because a significant institutional investor reducing its position could signal a less optimistic outlook on Spectrum Brands' future performance.

Why It Matters

A major institutional investor reducing its stake can be interpreted as a lack of confidence in the company's future prospects, potentially influencing other investors' decisions and the stock price.

Risk Assessment

Risk Level: medium — The reduction in ownership by a large institutional investor like American Century could indicate a perceived increase in risk or a less favorable outlook for Spectrum Brands.

Analyst Insight

Investors should investigate the reasons behind American Century's reduction in ownership and consider if this signals underlying issues with Spectrum Brands' fundamentals or future prospects before making investment decisions.

Key Numbers

• 2,668,542 — Shares Beneficially Owned (This is the total number of common stock shares of Spectrum Brands Holdings, Inc. that American Century Investment Management Inc. beneficially owned as of December 31, 2023.)
• 7.0% — Percentage of Class (This represents the percentage of Spectrum Brands Holdings, Inc.'s common stock that American Century Investment Management Inc. beneficially owned as of December 31, 2023, indicating a reduction from previous filings.)
• December 31, 2023 — Reporting Date (This is the specific date for which the ownership information is being reported, crucial for understanding the timeliness of the data.)

Key Players & Entities

• American Century Investment Management Inc. (company) — the entity filing the SC 13G/A
• Spectrum Brands Holdings, Inc. (company) — the subject company whose shares are being reported
• 2,668,542 (dollar_amount) — number of shares beneficially owned by American Century
• 7.0% (dollar_amount) — percentage of Spectrum Brands' common stock owned by American Century
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• Spectrum Brands' stock price may experience downward pressure due to American Century's reduced stake. (Spectrum Brands Holdings, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Spectrum Brands following this disclosure. (Institutional Investors) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• spectrumbrands13g-a2.htm (SC 13G/A) — 80KB
• image_12.jpg (GRAPHIC) — 0KB
• 0000052388-24-000123.txt ( ) — 83KB

If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a

Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a 1) American Century Investment Management, Inc. is an investment adviser in accordance with 240.13d-1(b)(1)(ii)(E). 2) American Century Companies, Inc. is a parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G). 3) Stowers Institute for Medical Research is a parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G).

Ownership

Item 4. Ownership. Reference is made to Items 5-9 and 11 on the cover page of this filing.

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following X

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Various persons, including the investment companies and separate institutional investor accounts that American Century Investment Management, Inc. ("ACIM") serves as investment adviser, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities that are the subject of this schedule. Except as may be otherwise indicated if this is a joint filing, not more than 5% of the class of securities that is the subject of this schedule is owned by any one client advised by ACIM. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. See attached Exhibit A.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable Page 6 of 8 Pages

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated this 9th day of February, 2024. AMERICAN CENTURY INVESTMENT MANAGEMENT, INC. ("ACIM") AMERICAN CENTURY COMPANIES, INC. ("ACC") By __ s John Pak __________________________ John Pak Senior Vice President, ACIM and ACC STOWERS INSTITUTE FOR MEDICAL RESEARCH, solely in its capacity as control entity of ACC By __ s Richard W. Brown ____________________ Richard W. Brown Chairman SCHEDULE 13G – To be included in statements filed pursuant to Rule 13d-1(b) or 13d-2(b). EXHIBIT A This Exhibit has been prepared to identify each subsidiary of American Century Companies, Inc. ("ACC"), which is controlled by the Stowers Institute for Medical Research, that is a beneficial owner of securities that are the subject of this schedule (the "Subject Securities"). American Century Investment Management, Inc. ("ACIM") is a wholly-owned subsidiary of ACC and an investment adviser registered under 203 of the Investment Advisers Act of 1940. SCHEDULE 13G – To be included in statements filed pursuant to Rule 13d-1(b) or 13d-2(b) and Rule 13d-1(f) (1) Agreement. Page 7 of 8 Pages EXHIBIT B Each of the undersigned hereby agrees and consents to the execution and joint filing on its behalf by American Century Investment Management, Inc. of this Schedule 13G respecting the beneficial ownership of the securities which are the subject of t

View Full Filing

View this SC 13G/A filing on SEC EDGAR