State Street Corp Sells 4,098 Shares of Lifetime Brands, Inc. (NASDAQ:LCUT)

State Street Corp decreased its holdings in Lifetime Brands, Inc. (NASDAQ:LCUT) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,966 shares of the company’s stock after selling 4,098 shares during the period. State Street Corp’s holdings in Lifetime Brands were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mackenzie Financial Corp bought a new position in shares of Lifetime Brands in the second quarter worth about $87,000. Rhumbline Advisers boosted its position in Lifetime Brands by 579.0% in the 2nd quarter. Rhumbline Advisers now owns 13,173 shares of the company’s stock valued at $113,000 after buying an additional 11,233 shares during the period. BNP Paribas Financial Markets grew its stake in Lifetime Brands by 657.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,096 shares of the company’s stock worth $118,000 after acquiring an additional 15,708 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Lifetime Brands during the third quarter worth approximately $128,000. Finally, SageView Advisory Group LLC raised its stake in shares of Lifetime Brands by 89.3% during the third quarter. SageView Advisory Group LLC now owns 24,421 shares of the company’s stock valued at $160,000 after acquiring an additional 11,521 shares in the last quarter. 40.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LCUT shares. Canaccord Genuity Group dropped their price objective on Lifetime Brands from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. StockNews.com cut Lifetime Brands from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, DA Davidson cut their price target on Lifetime Brands from $14.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, December 11th.

Lifetime Brands Price Performance

NASDAQ LCUT opened at $5.65 on Friday. The company has a market cap of $125.19 million, a PE ratio of -5.71, a P/E/G ratio of 0.83 and a beta of 1.29. The firm’s 50 day moving average price is $5.93 and its 200-day moving average price is $6.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 2.36. Lifetime Brands, Inc. has a 52-week low of $5.25 and a 52-week high of $11.68.

Lifetime Brands (NASDAQ:LCUT) last posted its earnings results on Thursday, November 7th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). Lifetime Brands had a positive return on equity of 3.13% and a negative net margin of 3.19%. The company had revenue of $183.84 million for the quarter, compared to analysts’ expectations of $193.90 million. During the same quarter in the prior year, the company earned $0.36 EPS. Sell-side analysts forecast that Lifetime Brands, Inc. will post 0.55 EPS for the current fiscal year.

Lifetime Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.043 per share. This represents a $0.17 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, January 31st. Lifetime Brands’s payout ratio is currently -17.17%.

Lifetime Brands Profile

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.