Signet Jewelers (NYSE:SIG) Given New $95.00 Price Target at Wells Fargo & Company

Signet Jewelers (NYSE:SIG) had its price objective cut by Wells Fargo & Company from $110.00 to $95.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also issued reports on SIG. Bank of America lowered their price target on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Telsey Advisory Group lowered their price objective on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.20.

Signet Jewelers Price Performance

NYSE SIG opened at $58.91 on Wednesday. Signet Jewelers has a twelve month low of $54.44 and a twelve month high of $112.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The stock has a market capitalization of $2.56 billion, a PE ratio of 6.78, a P/E/G ratio of 0.95 and a beta of 2.13. The stock has a 50-day simple moving average of $87.24 and a 200 day simple moving average of $87.61.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Research analysts anticipate that Signet Jewelers will post 9.88 EPS for the current year.

Signet Jewelers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, January 24th will be paid a $0.29 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.16 annualized dividend and a dividend yield of 1.97%. Signet Jewelers’s dividend payout ratio is currently 13.35%.

Insider Transactions at Signet Jewelers

In other news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total value of $756,560.00. Following the transaction, the insider now directly owns 200,844 shares of the company’s stock, valued at $18,993,817.08. The trade was a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $99.63, for a total value of $332,066.79. Following the completion of the transaction, the director now directly owns 26,085 shares in the company, valued at $2,598,848.55. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SIG. Khrom Capital Management LLC acquired a new position in Signet Jewelers during the 2nd quarter worth $58,357,000. Eminence Capital LP lifted its holdings in Signet Jewelers by 71.3% during the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after buying an additional 351,588 shares in the last quarter. Select Equity Group L.P. lifted its holdings in Signet Jewelers by 2.9% during the 2nd quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after buying an additional 193,977 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Signet Jewelers by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock worth $213,809,000 after buying an additional 149,934 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Signet Jewelers by 6.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock worth $185,347,000 after buying an additional 126,726 shares in the last quarter.

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.