Wedge Capital Management L L P NC Buys New Stake in Signet Jewelers Ltd. (SIG)
Wedge Capital Management L L P NC bought a new position in shares of Signet Jewelers Ltd. (NYSE:SIG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,229 shares of the company’s stock, valued at approximately $608,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MetLife Investment Advisors LLC lifted its position in shares of Signet Jewelers by 69.7% during the second quarter. MetLife Investment Advisors LLC now owns 64,016 shares of the company’s stock worth $3,569,000 after purchasing an additional 26,285 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Signet Jewelers by 3.8% during the second quarter. Wells Fargo & Company MN now owns 368,593 shares of the company’s stock worth $20,550,000 after purchasing an additional 13,645 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Signet Jewelers by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 697,621 shares of the company’s stock worth $38,892,000 after purchasing an additional 74,022 shares in the last quarter. Swiss National Bank lifted its position in shares of Signet Jewelers by 2.8% during the second quarter. Swiss National Bank now owns 102,800 shares of the company’s stock worth $5,731,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Putnam Investments LLC acquired a new position in shares of Signet Jewelers during the second quarter worth $7,945,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:SIG opened at $57.28 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.69 and a quick ratio of 0.47. The firm has a market capitalization of $3.13 billion, a P/E ratio of 11.94, a P/E/G ratio of 2.19 and a beta of 0.91. Signet Jewelers Ltd. has a 12-month low of $33.11 and a 12-month high of $77.94.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 2nd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.58%. Signet Jewelers’s dividend payout ratio (DPR) is presently 22.73%.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Signet Jewelers from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Thursday, September 6th. Nomura cut shares of Signet Jewelers from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research report on Tuesday, July 31st. They noted that the move was a valuation call. ValuEngine lowered shares of Signet Jewelers from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 31st. TheStreet upgraded shares of Signet Jewelers from a “d+” rating to a “c-” rating in a research note on Tuesday, August 21st. Finally, Wells Fargo & Co restated a “hold” rating and issued a $65.00 price target (up previously from $50.00) on shares of Signet Jewelers in a research note on Thursday, August 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.13.
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About Signet Jewelers
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands, as well as JamesAllen.com, an online jewelry retailer Website.
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