Signet Jewelers (NYSE:SIG) Given New $80.00 Price Target at Wells Fargo & Company

Signet Jewelers (NYSE:SIG) had its price objective lowered by Wells Fargo & Company from $95.00 to $80.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on SIG. Bank of America lowered their target price on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $55.00 target price on shares of Signet Jewelers in a research report on Wednesday. Finally, UBS Group boosted their price target on Signet Jewelers from $85.00 to $89.00 and gave the company a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

Signet Jewelers Stock Performance

Shares of NYSE:SIG opened at $56.31 on Thursday. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. Signet Jewelers has a 12 month low of $45.55 and a 12 month high of $112.06. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 6.48, a PEG ratio of 3.43 and a beta of 2.20. The firm’s 50-day moving average is $54.89 and its 200 day moving average is $78.50.

Signet Jewelers (NYSE:SIG) last released its earnings results on Wednesday, March 19th. The company reported $6.62 EPS for the quarter, beating analysts’ consensus estimates of $6.39 by $0.23. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Research analysts predict that Signet Jewelers will post 8.73 EPS for the current year.

Signet Jewelers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, April 25th. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.29. Signet Jewelers’s dividend payout ratio is presently 13.35%.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the sale, the director now owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Signet Jewelers by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company’s stock valued at $205,830,000 after purchasing an additional 139,109 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in shares of 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 buying an additional 1,724,592 shares in the last quarter. Anomaly Capital Management LP grew its position in shares of Signet Jewelers by 862.5% in the 4th quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock worth $142,253,000 after buying an additional 1,579,410 shares during the last quarter. State Street Corp raised its stake in shares of Signet Jewelers by 1.0% during the 3rd quarter. State Street Corp now owns 1,756,075 shares of the company’s stock worth $181,122,000 after acquiring an additional 16,912 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Signet Jewelers by 18.9% during the 4th quarter. American Century Companies Inc. now owns 1,150,441 shares of the company’s stock worth $92,852,000 after acquiring an additional 182,948 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.