Wells Fargo & Company Cuts Signet Jewelers (NYSE:SIG) Price Target to $95.00

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

Other equities analysts have also recently issued reports about the company. StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Telsey Advisory Group decreased their target price on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, Bank of America lowered their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Signet Jewelers has an average rating of “Moderate Buy” and an average price target of $95.20.

Signet Jewelers Price Performance

Shares of Signet Jewelers stock opened at $57.29 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. Signet Jewelers has a 52-week low of $54.44 and a 52-week high of $112.06. The company has a fifty day moving average of $85.61 and a 200-day moving average of $87.19. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 6.59, a price-to-earnings-growth ratio of 0.95 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last posted 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). The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. Equities research analysts expect that Signet Jewelers will post 9.88 EPS for the current year.

Signet Jewelers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, January 24th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, January 24th. This represents a $1.16 annualized dividend and a dividend yield of 2.02%. Signet Jewelers’s dividend payout ratio (DPR) is presently 13.35%.

Insider Buying and Selling

In related news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total transaction of $756,560.00. Following the transaction, the insider now owns 200,844 shares in the company, valued at $18,993,817.08. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the sale, the director now owns 26,085 shares of the company’s stock, valued at $2,598,848.55. This trade represents 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 currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Khrom Capital Management LLC bought a new stake in shares of Signet Jewelers during the second quarter valued at approximately $58,357,000. Eminence Capital LP lifted its position in Signet Jewelers by 71.3% during the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock valued at $75,644,000 after buying an additional 351,588 shares during the period. Select Equity Group L.P. boosted its holdings in shares of 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 valued at $622,562,000 after buying an additional 193,977 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Signet Jewelers by 6.7% in 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 during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Signet Jewelers by 6.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock worth $185,347,000 after acquiring an additional 126,726 shares in the last quarter.

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.