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

StockNews.com cut shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a report issued on Wednesday.

Other analysts also recently issued research reports about the company. Telsey Advisory Group reissued a market perform rating and issued a $105.00 price objective on shares of Signet Jewelers in a research note on Wednesday, July 24th. Wells Fargo & Company dropped their price objective on Signet Jewelers from $125.00 to $105.00 and set an overweight rating on the stock in a research note on Tuesday, August 27th. Finally, Citigroup reaffirmed a buy rating and set a $119.00 target price on shares of Signet Jewelers in a research report on Friday, June 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $116.20.

Signet Jewelers Stock Performance

SIG opened at $80.29 on Wednesday. Signet Jewelers has a one year low of $65.12 and a one year high of $112.06. The stock’s fifty day moving average is $82.50 and its 200-day moving average is $93.40. The company has a market capitalization of $3.58 billion, a PE ratio of 6.53, a P/E/G ratio of 0.90 and a beta of 2.11.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Thursday, June 13th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.29. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Signet Jewelers will post 10.6 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently announced 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Friday, July 26th. Signet Jewelers’s dividend payout ratio (DPR) is presently 9.43%.

Insider Transactions at Signet Jewelers

In other news, insider Rebecca Wooters sold 3,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $90.34, for a total transaction of $271,020.00. Following the sale, the insider now directly owns 90,494 shares of the company’s stock, valued at $8,175,227.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Oded Edelman sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $74.55, for a total transaction of $670,950.00. Following the transaction, the insider now directly owns 28,398 shares of the company’s stock, valued at $2,117,070.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rebecca Wooters sold 3,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $90.34, for a total value of $271,020.00. Following the transaction, the insider now directly owns 90,494 shares in the company, valued at $8,175,227.96. The disclosure for this sale can be found here. Insiders have sold 57,439 shares of company stock valued at $4,809,869 over the last three months. Company insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new position in Signet Jewelers during the second quarter valued at $51,000. Hexagon Capital Partners LLC grew its stake in Signet Jewelers by 33.4% in the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after purchasing an additional 175 shares in the last quarter. Blue Trust Inc. grew its stake in Signet Jewelers by 15.3% in the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after purchasing an additional 122 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Signet Jewelers by 55.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock valued at $164,000 after purchasing an additional 544 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Signet Jewelers in the second quarter valued at about $180,000.

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.