Signet Jewelers Limited (NYSE:SIG – Get Rating)’s share price traded down 5.2% during trading on Friday after Bank of America lowered their price target on the stock from $88.00 to $71.00. The company traded as low as $58.80 and last traded at $58.86. 1,064,455 shares traded hands during trading, an increase of 36% from the average session volume of 783,597 shares. The stock had previously closed at $62.11.
A number of other research analysts have also recently commented on SIG. Wells Fargo & Company dropped their price target on Signet Jewelers from $100.00 to $95.00 in a research report on Friday. Citigroup dropped their price objective on Signet Jewelers from $82.00 to $68.00 in a report on Friday. Telsey Advisory Group increased their price objective on Signet Jewelers from $75.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, April 19th. UBS Group increased their price objective on Signet Jewelers from $92.00 to $98.00 in a report on Friday, March 17th. Finally, StockNews.com initiated coverage on Signet Jewelers in a report on Thursday, May 18th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.40.
Insiders Place Their Bets
In other Signet Jewelers news, CEO Virginia Drosos sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $70.29, for a total value of $702,900.00. Following the transaction, the chief executive officer now directly owns 1,037,740 shares in the company, valued at approximately $72,942,744.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jamie Singleton sold 17,500 shares of the stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $80.00, for a total transaction of $1,400,000.00. Following the transaction, the insider now directly owns 211,056 shares in the company, valued at approximately $16,884,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Virginia Drosos sold 10,000 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $70.29, for a total value of $702,900.00. Following the transaction, the chief executive officer now owns 1,037,740 shares in the company, valued at $72,942,744.60. The disclosure for this sale can be found here. Insiders have sold 69,693 shares of company stock worth $5,231,135 in the last ninety days. 4.54% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Signet Jewelers
Several institutional investors and hedge funds have recently bought and sold shares of SIG. Raymond James Financial Services Advisors Inc. grew its position in Signet Jewelers by 1.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 25,524 shares of the company’s stock worth $1,856,000 after acquiring an additional 404 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Signet Jewelers during the 1st quarter worth approximately $377,000. Rhumbline Advisers lifted its holdings in Signet Jewelers by 7.1% in the 1st quarter. Rhumbline Advisers now owns 136,265 shares of the company’s stock worth $9,906,000 after buying an additional 9,028 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Signet Jewelers by 3.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 50,017 shares of the company’s stock worth $3,742,000 after buying an additional 1,772 shares during the period. Finally, Sei Investments Co. lifted its holdings in Signet Jewelers by 188.0% in the 1st quarter. Sei Investments Co. now owns 34,675 shares of the company’s stock worth $2,521,000 after buying an additional 22,633 shares during the period. 97.88% of the stock is currently owned by institutional investors.
Signet Jewelers Trading Down 4.6 %
The company has a current ratio of 1.56, a quick ratio of 0.60 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $71.69 and a two-hundred day simple moving average of $71.62. The firm has a market cap of $2.68 billion, a PE ratio of 9.33, a PEG ratio of 0.78 and a beta of 2.14.
Signet Jewelers (NYSE:SIG – Get Rating) last released its quarterly earnings data on Thursday, June 8th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.29. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Signet Jewelers had a return on equity of 46.64% and a net margin of 4.80%. The business’s revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $2.86 EPS. Equities analysts forecast that Signet Jewelers Limited will post 11.18 EPS for the current year.
Signet Jewelers Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, July 28th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, July 27th. Signet Jewelers’s payout ratio is presently 14.58%.
About Signet Jewelers
Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.