Hsbc Holdings PLC Grows Stake in Lifetime Brands, Inc. (NASDAQ:LCUT)

Hsbc Holdings PLC boosted its stake in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) by 84.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,625 shares of the company’s stock after acquiring an additional 9,932 shares during the period. Hsbc Holdings PLC’s holdings in Lifetime Brands were worth $128,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of Lifetime Brands during the 3rd quarter valued at $67,000. Barclays PLC lifted its holdings in shares of Lifetime Brands by 38.7% in the 3rd quarter. Barclays PLC now owns 19,016 shares of the company’s stock valued at $124,000 after buying an additional 5,302 shares during the period. Empowered Funds LLC increased its holdings in shares of Lifetime Brands by 5.2% during the 4th quarter. Empowered Funds LLC now owns 101,073 shares of the company’s stock valued at $597,000 after purchasing an additional 4,980 shares in the last quarter. Martin & Co. Inc. TN raised 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 worth $1,962,000 after acquiring an additional 96,816 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Lifetime Brands by 744.1% in the fourth quarter. JPMorgan Chase & Co. now owns 45,589 shares of the company’s stock valued at $269,000 after purchasing an additional 40,188 shares during the period. 40.62% of the stock is currently owned by institutional investors.

Lifetime Brands Stock Up 7.7%

Shares of NASDAQ LCUT opened at $3.23 on Monday. The stock has a market cap of $72.40 million, a PE ratio of -3.26, a price-to-earnings-growth ratio of 0.48 and a beta of 1.55. The business has a 50-day moving average price of $4.36 and a 200 day moving average price of $5.27. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.88. Lifetime Brands, Inc. has a 52-week low of $2.89 and a 52-week high of $11.68.

Lifetime Brands (NASDAQ:LCUT) last released its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). Lifetime Brands had a negative net margin of 3.19% and a positive return on equity of 3.13%. The company had revenue of $140.09 million during the quarter, compared to analyst estimates of $144.86 million. Equities research analysts forecast that Lifetime Brands, Inc. will post 0.55 earnings per share for the current year.

Lifetime Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Thursday, May 1st. Lifetime Brands’s dividend payout ratio is currently -27.87%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Lifetime Brands from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. StockNews.com upgraded shares of Lifetime Brands from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, DA Davidson lowered their price objective on shares of Lifetime Brands from $6.75 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th.

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.