JPMorgan Chase & Co. Boosts Stake in Lifetime Brands, Inc. (NASDAQ:LCUT)

JPMorgan Chase & Co. increased its holdings in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) by 744.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,589 shares of the company’s stock after acquiring an additional 40,188 shares during the quarter. JPMorgan Chase & Co. owned about 0.21% of Lifetime Brands worth $269,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Martin & Co. Inc. TN grew its position in shares of Lifetime Brands by 41.2% in the fourth quarter. Martin & Co. Inc. TN now owns 331,939 shares of the company’s stock valued at $1,962,000 after purchasing an additional 96,816 shares in the last quarter. Empowered Funds LLC grew its holdings in Lifetime Brands by 5.2% in the 4th quarter. Empowered Funds LLC now owns 101,073 shares of the company’s stock valued at $597,000 after buying an additional 4,980 shares in the last quarter. Barclays PLC increased its stake in shares of Lifetime Brands by 38.7% in the 3rd quarter. Barclays PLC now owns 19,016 shares of the company’s stock worth $124,000 after acquiring an additional 5,302 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Lifetime Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 294,291 shares of the company’s stock worth $1,925,000 after acquiring an additional 11,118 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Lifetime Brands during the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 40.62% of the company’s stock.

Lifetime Brands Trading Up 1.4 %

NASDAQ LCUT opened at $3.58 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.36 and a quick ratio of 0.97. The stock has a market capitalization of $80.24 million, a P/E ratio of -3.62, a PEG ratio of 0.48 and a beta of 1.38. The firm’s 50-day moving average is $4.53 and its two-hundred day moving average is $5.38. Lifetime Brands, Inc. has a 12 month low of $3.33 and a 12 month high of $11.68.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $215.21 million for the quarter, compared to analyst estimates of $206.60 million. Lifetime Brands had a negative net margin of 3.19% and a positive return on equity of 3.13%. On average, sell-side analysts anticipate that Lifetime Brands, Inc. will post 0.55 earnings per share for the current year.

Lifetime Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.0425 dividend. The ex-dividend date is Thursday, May 1st. This represents a $0.17 dividend on an annualized basis and a dividend yield of 4.75%. Lifetime Brands’s payout ratio is presently -23.94%.

Analysts Set New Price Targets

LCUT has been the topic of a number of analyst reports. DA Davidson reduced their target price on shares of Lifetime Brands from $6.75 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. StockNews.com upgraded shares of Lifetime Brands from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Canaccord Genuity Group decreased their price objective on Lifetime Brands from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd.

About Lifetime Brands

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.