Signet Jewelers Ltd. (SIG) Shares Down 3%
Signet Jewelers Ltd. (NYSE:SIG) dropped 3% during mid-day trading on Wednesday . The stock traded as low as $86.63 and last traded at $86.77, with a volume of 982,761 shares traded. The stock had previously closed at $89.46.
SIG has been the topic of several recent analyst reports. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Signet Jewelers in a research note on Thursday, May 12th. Bank of America Corp. reissued a “buy” rating on shares of Signet Jewelers in a research note on Tuesday, March 29th. Zacks Investment Research raised shares of Signet Jewelers from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research note on Friday, May 27th. Nomura reissued a “buy” rating and set a $148.00 target price on shares of Signet Jewelers in a research note on Thursday, June 9th. Finally, Telsey Advisory Group reissued a “buy” rating on shares of Signet Jewelers in a research note on Sunday, May 29th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Signet Jewelers currently has a consensus rating of “Buy” and an average price target of $135.85.
The firm has a market capitalization of $6.80 billion and a P/E ratio of 13.94. The company’s 50 day moving average price is $86.10 and its 200-day moving average price is $104.21.
Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Thursday, May 26th. The company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.01. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.61 billion. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. Analysts expect that Signet Jewelers Ltd. will post $8.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, July 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.19%.
In related news, insider Mark Andrew Jenkins acquired 325 shares of Signet Jewelers stock in a transaction on Tuesday, June 14th. The shares were purchased at an average cost of $84.75 per share, for a total transaction of $27,543.75. Following the purchase, the insider now directly owns 14,639 shares of the company’s stock, valued at approximately $1,240,655.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sebastian Hobbs acquired 500 shares of Signet Jewelers stock in a transaction on Monday, July 18th. The shares were bought at an average price of $91.72 per share, for a total transaction of $45,860.00. Following the completion of the purchase, the director now directly owns 8,684 shares in the company, valued at $796,496.48. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Vanguard Group Inc. increased its position in Signet Jewelers by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 6,655,338 shares of the company’s stock worth $823,199,000 after buying an additional 138,850 shares during the last quarter. Jennison Associates LLC increased its position in Signet Jewelers by 8.6% in the fourth quarter. Jennison Associates LLC now owns 1,188,827 shares of the company’s stock worth $147,046,000 after buying an additional 93,767 shares during the last quarter. Schroder Investment Management Group increased its position in Signet Jewelers by 18.6% in the fourth quarter. Schroder Investment Management Group now owns 326,832 shares of the company’s stock worth $32,781,000 after buying an additional 51,264 shares during the last quarter. Wells Fargo & Company MN increased its position in Signet Jewelers by 8.4% in the fourth quarter. Wells Fargo & Company MN now owns 239,570 shares of the company’s stock worth $29,633,000 after buying an additional 18,559 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in Signet Jewelers by 38.8% in the fourth quarter. BlackRock Advisors LLC now owns 121,943 shares of the company’s stock worth $15,084,000 after buying an additional 34,104 shares during the last quarter.
Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.
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