Signet Jewelers (NYSE:SIG) Given New $125.00 Price Target at Wells Fargo & Company

Signet Jewelers (NYSE:SIGFree Report) had its price target hoisted by Wells Fargo & Company from $120.00 to $125.00 in a report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also commented on SIG. Bank of America decreased their price target on Signet Jewelers from $110.00 to $100.00 and set a neutral rating on the stock in a research note on Thursday, March 21st. UBS Group increased their price objective on Signet Jewelers from $128.00 to $152.00 and gave the company a buy rating in a research note on Thursday, April 4th. StockNews.com downgraded shares of Signet Jewelers from a buy rating to a hold rating in a research report on Saturday, April 27th. Finally, Telsey Advisory Group increased their price objective on Signet Jewelers from $100.00 to $110.00 and gave the company a market perform rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Signet Jewelers has an average rating of Hold and a consensus price target of $121.20.

View Our Latest Stock Analysis on SIG

Signet Jewelers Stock Performance

NYSE:SIG opened at $108.35 on Monday. The stock has a market capitalization of $4.82 billion, a PE ratio of 7.23, a P/E/G ratio of 1.21 and a beta of 2.12. Signet Jewelers has a fifty-two week low of $57.10 and a fifty-two week high of $112.06. The company has a fifty day moving average of $99.88 and a two-hundred day moving average of $98.70.

Signet Jewelers (NYSE:SIGGet Free Report) last announced its earnings results on Wednesday, March 20th. The company reported $6.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $0.40. Signet Jewelers had a net margin of 11.30% and a return on equity of 32.26%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the company posted $5.52 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Research analysts forecast that Signet Jewelers will post 10.6 earnings per share for the current year.

Signet Jewelers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, April 26th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, April 25th. Signet Jewelers’s payout ratio is 7.74%.

Insider Buying and Selling

In other news, CAO Vincent Ciccolini sold 4,000 shares of Signet Jewelers stock in a transaction on Friday, April 26th. The stock was sold at an average price of $101.64, for a total transaction of $406,560.00. Following the completion of the transaction, the chief accounting officer now owns 46,076 shares of the company’s stock, valued at approximately $4,683,164.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $92.69, for a total transaction of $741,520.00. Following the sale, the insider now owns 187,377 shares in the company, valued at $17,367,974.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Vincent Ciccolini sold 4,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $101.64, for a total value of $406,560.00. Following the sale, the chief accounting officer now owns 46,076 shares in the company, valued at approximately $4,683,164.64. The disclosure for this sale can be found here. Insiders have sold 35,431 shares of company stock valued at $3,444,267 over the last quarter. Company insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC increased its stake 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 acquiring an additional 127 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Signet Jewelers during the 4th quarter worth approximately $64,000. Quadrant Capital Group LLC increased its position in Signet Jewelers by 55.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock worth $164,000 after purchasing an additional 544 shares in the last quarter. Lazard Asset Management LLC lifted its position in Signet Jewelers by 6.8% during the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after buying an additional 116 shares in the last quarter. Finally, Greenleaf Trust purchased a new stake in Signet Jewelers during the fourth quarter worth approximately $202,000.

Signet Jewelers Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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