Khrom Capital Management LLC Makes New $58.36 Million Investment in Signet Jewelers Limited (NYSE:SIG)

Khrom Capital Management LLC acquired a new stake in shares of Signet Jewelers Limited (NYSE:SIG) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 651,448 shares of the company’s stock, valued at approximately $58,357,000. Signet Jewelers makes up about 11.0% of Khrom Capital Management LLC’s portfolio, making the stock its 4th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC grew its stake in Signet Jewelers by 6.8% in the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock worth $183,000 after purchasing an additional 116 shares during the period. Blue Trust Inc. lifted its position in Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after acquiring an additional 122 shares during the period. SummerHaven Investment Management LLC boosted its stake in Signet Jewelers by 1.4% during the second quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock worth $932,000 after acquiring an additional 144 shares in the last quarter. Commerce Bank grew its holdings in Signet Jewelers by 5.3% in the fourth quarter. Commerce Bank now owns 2,941 shares of the company’s stock worth $315,000 after purchasing an additional 148 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Signet Jewelers by 5.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock worth $303,000 after purchasing an additional 156 shares during the period.

Signet Jewelers Trading Down 2.2 %

Shares of SIG opened at $94.98 on Monday. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 1.04 and a beta of 2.10. The business’s fifty day simple moving average is $82.07 and its two-hundred day simple moving average is $91.90. Signet Jewelers Limited has a 12 month low of $65.12 and a 12 month high of $112.06.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Thursday, September 12th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm posted $1.55 earnings per share. Signet Jewelers’s revenue was down 7.6% compared to the same quarter last year. As a group, research analysts forecast that Signet Jewelers Limited will post 10.8 EPS for the current year.

Signet Jewelers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, October 25th. This represents a $1.16 annualized dividend and a dividend yield of 1.22%. Signet Jewelers’s payout ratio is 9.43%.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,334 shares of Signet Jewelers stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $87.94, for a total value of $293,191.96. Following the completion of the sale, the director now owns 29,418 shares of the company’s stock, valued at approximately $2,587,018.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,334 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the transaction, the director now directly owns 29,418 shares of the company’s stock, valued at $2,587,018.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jamie Singleton sold 18,105 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $83.11, for a total value of $1,504,706.55. Following the sale, the insider now owns 162,942 shares of the company’s stock, valued at $13,542,109.62. The disclosure for this sale can be found here. Insiders have sold a total of 50,202 shares of company stock worth $4,151,769 over the last quarter. Company insiders own 3.26% of the company’s stock.

Analysts Set New Price Targets

SIG has been the topic of a number of analyst reports. Telsey Advisory Group dropped their price target on Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating on the stock in a research report on Monday, September 9th. Citigroup reissued a “buy” rating and issued a $119.00 target price on shares of Signet Jewelers in a report on Friday, June 14th. Wells Fargo & Company cut their target price on Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Bank of America lowered their price target on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com upgraded shares of Signet Jewelers from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Signet Jewelers currently has an average rating of “Moderate Buy” and a consensus target price of $108.60.

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.