Signet Jewelers (NYSE:SIG) Price Target Raised to $75.00

Signet Jewelers (NYSE:SIG) had its price objective hoisted by Wells Fargo & Company from $70.00 to $75.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on SIG. Bank of America raised their target price on shares of Signet Jewelers from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday. Cfra Research raised shares of Signet Jewelers to a “moderate buy” rating in a research note on Thursday, March 20th. UBS Group raised their target price on shares of Signet Jewelers from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Telsey Advisory Group raised their target price on shares of Signet Jewelers from $62.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, CL King started coverage on Signet Jewelers in a research note on Monday, May 5th. They set a “buy” rating and a $80.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Signet Jewelers has an average rating of “Hold” and an average target price of $84.67.

Signet Jewelers Stock Up 4.1%

SIG stock opened at $77.86 on Wednesday. Signet Jewelers has a twelve month low of $45.55 and a twelve month high of $109.52. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 3.43 and a beta of 1.36. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $61.79 and a two-hundred day moving average price of $65.74.

Signet Jewelers (NYSE:SIG) last released its earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.17. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned $1.11 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Analysts anticipate that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, July 25th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, July 25th. This represents a $1.28 annualized dividend and a dividend yield of 1.64%. Signet Jewelers’s dividend payout ratio is currently 139.13%.

Insider Transactions at Signet Jewelers

In other news, CEO James Kevin Symancyk purchased 15,000 shares of Signet Jewelers stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average cost of $57.45 per share, for a total transaction of $861,750.00. Following the purchase, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at $2,913,289.50. This trade represents a 42.01% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Helen Mccluskey purchased 1,700 shares of Signet Jewelers stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $58.86 per share, with a total value of $100,062.00. Following the completion of the purchase, the director now directly owns 31,916 shares in the company, valued at $1,878,575.76. This trade represents a 5.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Signet Jewelers

Several institutional investors have recently added to or reduced their stakes in SIG. Cooper Creek Partners Management LLC boosted its stake in Signet Jewelers by 1,046.3% in the 4th quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company’s stock valued at $152,495,000 after purchasing an additional 1,724,592 shares during the period. Anomaly Capital Management LP boosted its stake in Signet Jewelers by 862.5% in the 4th quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock valued at $142,253,000 after purchasing an additional 1,579,410 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Signet Jewelers by 175.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company’s stock valued at $107,963,000 after purchasing an additional 1,183,214 shares during the period. Norges Bank acquired a new position in Signet Jewelers in the 4th quarter valued at $40,989,000. Finally, Vanguard Group Inc. raised its holdings in Signet Jewelers by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company’s stock valued at $302,258,000 after acquiring an additional 389,852 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.