JB Capital Partners LP Acquires Shares of 1,627,852 Lifetime Brands, Inc. $LCUT

Key Points

• JB Capital Partners LP acquired 1,627,852 shares of Lifetime Brands, representing a 7.08% stake and 2.1% of the fund’s portfolio. Institutional investors collectively own 40.62% of LCUT.
• Lifetime Brands reported quarterly EPS of $1.18, beating analyst expectations by $1.39, while revenue of $141.57 million also exceeded estimates. Analysts’ consensus rating is “Moderate Buy,” with a $9.50 price target.
• The company declared a quarterly dividend of $0.0425 per share, or $0.17 annually, implying a 1.9% yield and an 11.89% payout ratio.

JB Capital Partners LP bought a new position in shares of Lifetime Brands, Inc. (NASDAQ:LCUT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,627,852 shares of the company's stock, valued at approximately $13,820,463,000. Lifetime Brands accounts for 2.1% of JB Capital Partners LP's portfolio, making the stock its 12th largest holding. JB Capital Partners LP owned 7.08% of Lifetime Brands as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in LCUT. Empowered Funds LLC grew its position in shares of Lifetime Brands by 7.3% during the 1st quarter. Empowered Funds LLC now owns 108,458 shares of the company's stock worth $535,000 after buying an additional 7,385 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Lifetime Brands during the second quarter worth $88,000. Ameriprise Financial Inc. raised its holdings in shares of Lifetime Brands by 16.8% during the second quarter. Ameriprise Financial Inc. now owns 908,722 shares of the company's stock worth $4,634,000 after acquiring an additional 130,650 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Lifetime Brands in the 3rd quarter valued at $118,000. Finally, Bridgeway Capital Management LLC lifted its position in Lifetime Brands by 3.8% in the 3rd quarter. Bridgeway Capital Management LLC now owns 243,414 shares of the company's stock valued at $942,000 after acquiring an additional 8,820 shares in the last quarter. Institutional investors own 40.62% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Lifetime Brands from $6.00 to $7.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded Lifetime Brands from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Lifetime Brands in a research note on Monday, July 6th. Roth Capital reissued a "buy" rating and issued a $12.00 target price on shares of Lifetime Brands in a research note on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Lifetime Brands from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lifetime Brands currently has an average rating of "Moderate Buy" and a consensus target price of $9.50.

Lifetime Brands Stock Down 1.4%

LCUT stock opened at $9.17 on Friday. Lifetime Brands, Inc. has a 1-year low of $2.90 and a 1-year high of $10.17. The business's 50 day simple moving average is $8.68 and its 200 day simple moving average is $6.86. The company has a current ratio of 2.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $210.81 million, a PE ratio of 6.41, a PEG ratio of 0.32 and a beta of 1.00.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $1.39. Lifetime Brands had a net margin of 4.81% and a return on equity of 26.39%. The business had revenue of $141.57 million for the quarter, compared to analyst estimates of $136.64 million. As a group, research analysts anticipate that Lifetime Brands, Inc. will post 2.08 EPS for the current year.

Lifetime Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, October 30th. Lifetime Brands's payout ratio is currently 11.89%.

About Lifetime Brands

Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.

In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef'sChoice.

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