Signet Jewelers (NYSE:SIG) Downgraded by StockNews.com

StockNews.com downgraded shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a report released on Saturday.

SIG has been the subject of a number of other research reports. Bank of America cut their price target on shares of Signet Jewelers from $110.00 to $100.00 and set a neutral rating for the company in a report on Thursday, March 21st. UBS Group lifted their price target on shares of Signet Jewelers from $128.00 to $152.00 and gave the company a buy rating in a research report on Thursday, April 4th. Finally, Telsey Advisory Group upped their price target on Signet Jewelers from $100.00 to $110.00 and gave the stock a market perform rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Signet Jewelers has an average rating of Hold and an average target price of $120.20.

Signet Jewelers Stock Up 0.3 %

Shares of NYSE:SIG opened at $102.09 on Friday. Signet Jewelers has a fifty-two week low of $57.10 and a fifty-two week high of $109.17. The firm’s 50-day simple moving average is $99.51 and its 200-day simple moving average is $93.78. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 6.81, a PEG ratio of 1.20 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $6.73 earnings per share for the quarter, beating analysts’ consensus estimates of $6.33 by $0.40. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.55 billion. Signet Jewelers had a return on equity of 32.26% and a net margin of 11.30%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.52 EPS. On average, research analysts forecast that Signet Jewelers will post 10.6 EPS for the current year.

Signet Jewelers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, April 26th will be given a dividend of $0.29 per share. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.23. This represents a $1.16 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, April 25th. Signet Jewelers’s payout ratio is currently 7.74%.

Insider Activity at Signet Jewelers

In other news, Director H. Todd Stitzer sold 10,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $100.09, for a total value of $1,000,900.00. Following the completion of the transaction, the director now directly owns 41,678 shares of the company’s stock, valued at $4,171,551.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider William Brace sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $99.00, for a total transaction of $297,000.00. Following the sale, the insider now owns 75,664 shares in the company, valued at $7,490,736. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director H. Todd Stitzer sold 10,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $100.09, for a total value of $1,000,900.00. Following the completion of the transaction, the director now owns 41,678 shares of the company’s stock, valued at $4,171,551.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,254 shares of company stock valued at $4,669,294. 4.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Signet Jewelers

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC lifted its position in Signet Jewelers by 37.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock worth $50,000 after buying an additional 127 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Signet Jewelers during the 4th quarter worth about $64,000. Quadrant Capital Group LLC boosted its position in shares of Signet Jewelers by 55.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock worth $164,000 after acquiring an additional 544 shares during the last quarter. Greenleaf Trust purchased a new stake in Signet Jewelers in the fourth quarter valued at approximately $202,000. Finally, Channel Wealth LLC acquired a new position in Signet Jewelers during the fourth quarter worth approximately $215,000.

About Signet Jewelers

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.