Trexquant Investment LP acquired a new stake in shares of Signet Jewelers Ltd. (NYSE:SIG) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 60,702 shares of the company’s stock, valued at approximately $1,649,000.
Several other hedge funds and other institutional investors have also modified their holdings of SIG. Norges Bank acquired a new position in shares of Signet Jewelers during the fourth quarter valued at about $25,113,000. LSV Asset Management grew its holdings in shares of Signet Jewelers by 160.1% during the fourth quarter. LSV Asset Management now owns 368,500 shares of the company’s stock valued at $11,707,000 after buying an additional 226,826 shares during the last quarter. Duality Advisers LP acquired a new position in shares of Signet Jewelers during the first quarter valued at about $5,475,000. BlackRock Inc. grew its holdings in shares of Signet Jewelers by 3.0% during the first quarter. BlackRock Inc. now owns 6,645,972 shares of the company’s stock valued at $180,505,000 after buying an additional 196,601 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Signet Jewelers by 288.8% during the fourth quarter. Millennium Management LLC now owns 195,614 shares of the company’s stock valued at $6,215,000 after buying an additional 145,307 shares during the last quarter.
Shares of SIG traded down $0.99 during trading hours on Friday, reaching $18.13. 25,365 shares of the stock traded hands, compared to its average volume of 1,989,512. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 0.31. Signet Jewelers Ltd. has a 52 week low of $17.69 and a 52 week high of $71.07. The firm has a market capitalization of $976.31 million, a P/E ratio of 4.87, a PEG ratio of 0.94 and a beta of 1.04.
Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.32. Signet Jewelers had a negative net margin of 2.76% and a positive return on equity of 16.90%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm earned $0.10 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts expect that Signet Jewelers Ltd. will post 3.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.16%. The ex-dividend date of this dividend is Thursday, August 1st. Signet Jewelers’s payout ratio is currently 39.78%.
SIG has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Signet Jewelers from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 20th. Telsey Advisory Group reissued a “market perform” rating and set a $22.00 price target (down from $28.00) on shares of Signet Jewelers in a research report on Monday, June 3rd. Needham & Company LLC reissued a “hold” rating on shares of Signet Jewelers in a research report on Thursday, April 4th. Nomura dropped their price target on shares of Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Finally, Bank of America dropped their price target on shares of Signet Jewelers from $30.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.54.
About Signet Jewelers
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.
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