Geode Capital Management LLC Raises Stock Holdings in Lifetime Brands, Inc. (NASDAQ:LCUT)

Geode Capital Management LLC boosted its position in Lifetime Brands, Inc. (NASDAQ:LCUT) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 294,291 shares of the company’s stock after acquiring an additional 11,118 shares during the period. Geode Capital Management LLC owned 1.33% of Lifetime Brands worth $1,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Lifetime Brands by 22.8% during the second quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock valued at $1,299,000 after acquiring an additional 28,104 shares in the last quarter. Rhumbline Advisers raised its holdings in Lifetime Brands by 579.0% in the 2nd quarter. Rhumbline Advisers now owns 13,173 shares of the company’s stock worth $113,000 after purchasing an additional 11,233 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Lifetime Brands by 20.4% in the 2nd quarter. Acadian Asset Management LLC now owns 318,957 shares of the company’s stock worth $2,737,000 after purchasing an additional 54,142 shares during the period. American Century Companies Inc. lifted its position in shares of Lifetime Brands by 88.0% in the 2nd quarter. American Century Companies Inc. now owns 161,252 shares of the company’s stock worth $1,385,000 after purchasing an additional 75,475 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Lifetime Brands by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,216,375 shares of the company’s stock valued at $10,449,000 after purchasing an additional 38,471 shares in the last quarter. Hedge funds and other institutional investors own 40.62% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lifetime Brands Trading Up 0.4 %

Shares of NASDAQ LCUT opened at $5.71 on Thursday. Lifetime Brands, Inc. has a 1 year low of $5.25 and a 1 year high of $11.68. 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 firm has a 50-day moving average of $5.96 and a 200 day moving average of $6.72. The stock has a market cap of $126.52 million, a P/E ratio of -5.77, a price-to-earnings-growth ratio of 0.83 and a beta of 1.27.

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

Lifetime Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.043 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.17 annualized dividend and a dividend yield of 3.01%. Lifetime Brands’s payout ratio is presently -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.