Signet Jewelers (NYSE:SIG) Price Target Lowered to $105.00 at Wells Fargo & Company

Signet Jewelers (NYSE:SIG) had its price objective trimmed by Wells Fargo & Company from $125.00 to $105.00 in a report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

SIG has been the topic of a number of other research reports. Telsey Advisory Group reissued a market perform rating and set a $105.00 price objective on shares of Signet Jewelers in a report on Wednesday, July 24th. Citigroup restated a buy rating and issued a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Signet Jewelers has a consensus rating of Moderate Buy and an average price target of $116.20.

Signet Jewelers Price Performance

NYSE:SIG opened at $84.10 on Tuesday. The company has a market capitalization of $3.75 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.83 and a beta of 2.16. The business has a fifty day simple moving average of $82.89 and a two-hundred day simple moving average of $93.96. Signet Jewelers has a 1 year low of $65.12 and a 1 year high of $112.06.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Thursday, June 13th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.82 by $0.29. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The company’s revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. As a group, analysts anticipate that Signet Jewelers will post 10.6 earnings per share for the current year.

Signet Jewelers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.38%. Signet Jewelers’s dividend payout ratio (DPR) is presently 9.43%.

Insider Buying and Selling

In related news, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total value of $734,480.00. Following the completion of the transaction, the insider now directly owns 189,231 shares in the company, valued at $17,373,298.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $91.81, for a total value of $734,480.00. Following the completion of the sale, the insider now owns 189,231 shares in the company, valued at approximately $17,373,298.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rebecca Wooters sold 3,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $90.34, for a total transaction of $271,020.00. Following the transaction, the insider now owns 90,494 shares in the company, valued at $8,175,227.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,439 shares of company stock worth $4,809,869. Insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

A number of large investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its position in Signet Jewelers by 37.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock valued at $50,000 after purchasing an additional 127 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Signet Jewelers during the second quarter worth about $51,000. Blue Trust Inc. boosted its holdings in shares of Signet Jewelers by 15.3% during the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after purchasing an additional 122 shares during the period. Quadrant Capital Group LLC grew its stake 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 purchasing an additional 544 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in Signet Jewelers during the 2nd quarter valued at about $180,000.

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.