Analysts Set Signet Jewelers Limited (NYSE:SIG) Price Target at $120.20

Shares of Signet Jewelers Limited (NYSE:SIG) have earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $120.20.

Several research firms have recently weighed in on SIG. Wells Fargo & Company lifted their price objective on shares of Signet Jewelers from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Telsey Advisory Group lifted their price objective on shares of Signet Jewelers from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Bank of America lowered their price objective on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, March 21st. Finally, UBS Group lifted their price objective on shares of Signet Jewelers from $128.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, April 4th.

Insider Transactions at Signet Jewelers

In other news, Director H. Todd Stitzer sold 5,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $102.41, for a total value of $512,050.00. Following the completion of the sale, the director now owns 56,678 shares in the company, valued at approximately $5,804,393.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director H. Todd Stitzer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $102.41, for a total value of $512,050.00. Following the transaction, the director now directly owns 56,678 shares of the company’s stock, valued at approximately $5,804,393.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Howard A. Melnick sold 1,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $99.60, for a total transaction of $99,600.00. Following the completion of the transaction, the insider now directly owns 65,999 shares in the company, valued at $6,573,500.40. The disclosure for this sale can be found here. Insiders sold a total of 91,254 shares of company stock worth $8,916,044 in the last quarter. 4.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently made changes to their positions in SIG. Belpointe Asset Management LLC lifted its holdings in Signet Jewelers by 67.9% during the first quarter. Belpointe Asset Management LLC now owns 403 shares of the company’s stock valued at $31,000 after purchasing an additional 163 shares during the last quarter. Quarry LP increased its position in shares of Signet Jewelers by 274.1% during the first quarter. Quarry LP now owns 404 shares of the company’s stock valued at $31,000 after buying an additional 296 shares during the period. Ronald Blue Trust Inc. increased its position in shares of Signet Jewelers by 187.2% during the third quarter. Ronald Blue Trust Inc. now owns 494 shares of the company’s stock valued at $35,000 after buying an additional 322 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Signet Jewelers by 37.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock valued at $50,000 after buying an additional 127 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in shares of Signet Jewelers during the first quarter valued at about $51,000.

Signet Jewelers Stock Performance

Shares of NYSE SIG opened at $96.63 on Friday. The company has a market capitalization of $4.28 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 1.13 and a beta of 2.13. Signet Jewelers has a 52-week low of $57.10 and a 52-week high of $109.17. The company’s 50 day moving average price is $100.38 and its 200-day moving average price is $91.96.

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

Signet Jewelers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, April 26th will be paid a $0.29 dividend. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 25th. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. Signet Jewelers’s dividend payout ratio is presently 6.14%.

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.