Signet Jewelers (NYSE:SIG) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a research note released on Monday morning.

SIG has been the topic of a number of other research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $87.00 price objective on shares of Signet Jewelers in a research note on Wednesday, October 2nd. Wells Fargo & Company dropped their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Bank of America lowered their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, UBS Group cut their target price on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.60.

Signet Jewelers Stock Down 2.1 %

SIG stock opened at $93.64 on Monday. The company has a 50-day simple moving average of $89.64 and a 200 day simple moving average of $91.96. The company has a market capitalization of $4.18 billion, a P/E ratio of 7.61, a PEG ratio of 1.14 and a beta of 2.10. Signet Jewelers has a fifty-two week low of $67.18 and a fifty-two week high of $112.06.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $1.55 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities analysts anticipate that Signet Jewelers will post 10.8 EPS for the current year.

Signet Jewelers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s dividend payout ratio is presently 9.43%.

Insider Transactions at Signet Jewelers

In related news, CEO Virginia Drosos sold 3,475 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total value of $353,303.25. Following the completion of the sale, the chief executive officer now owns 775,345 shares in the company, valued at approximately $78,829,326.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Signet Jewelers news, CEO Virginia Drosos sold 3,475 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total transaction of $353,303.25. Following the sale, the chief executive officer now directly owns 775,345 shares of the company’s stock, valued at $78,829,326.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Oded Edelman sold 1,398 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $94.53, for a total value of $132,152.94. Following the completion of the sale, the insider now directly owns 32,666 shares of the company’s stock, valued at approximately $3,087,916.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,957 shares of company stock valued at $5,910,256 over the last ninety days. Corporate insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

A number of hedge funds have recently made changes to their positions in SIG. Nordea Investment Management AB grew its position in Signet Jewelers by 25.0% during the first quarter. Nordea Investment Management AB now owns 76,951 shares of the company’s stock valued at $7,627,000 after purchasing an additional 15,376 shares in the last quarter. MidWestOne Financial Group Inc. boosted its stake in shares of Signet Jewelers by 63.3% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 16,974 shares of the company’s stock valued at $1,521,000 after buying an additional 6,579 shares during the period. Cetera Advisors LLC purchased a new position in shares of Signet Jewelers during the 1st quarter valued at $1,093,000. Illinois Municipal Retirement Fund increased its stake in shares of Signet Jewelers by 97.3% in the first quarter. Illinois Municipal Retirement Fund now owns 45,593 shares of the company’s stock worth $4,562,000 after acquiring an additional 22,482 shares during the last quarter. Finally, Boston Partners purchased a new stake in shares of Signet Jewelers during the first quarter worth $1,088,000.

Signet Jewelers Company Profile

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.