Hsbc Holdings PLC Increases Stake in Signet Jewelers Limited $SIG

Hsbc Holdings PLC raised its position in Signet Jewelers Limited (NYSE:SIG) by 282.3% in the 1st quarter, Holdings Channel reports. The fund owned 10,686 shares of the company’s stock after acquiring an additional 7,891 shares during the period. Hsbc Holdings PLC’s holdings in Signet Jewelers were worth $903,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management boosted its holdings in shares of Signet Jewelers by 90.0% in the fourth quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock valued at $89,332,000 after acquiring an additional 510,551 shares in the last quarter. Clark Capital Management Group Inc. purchased a new position in Signet Jewelers during the fourth quarter worth about $35,815,000. UBS Group AG lifted its position in Signet Jewelers by 185.4% in the fourth quarter. UBS Group AG now owns 545,140 shares of the company’s stock valued at $45,181,000 after purchasing an additional 354,108 shares during the period. Victory Capital Management Inc. lifted its position in Signet Jewelers by 90.7% in the fourth quarter. Victory Capital Management Inc. now owns 639,771 shares of the company’s stock valued at $53,024,000 after purchasing an additional 304,288 shares during the period. Finally, Summit Street Capital Management LLC purchased a new stake in Signet Jewelers in the 3rd quarter valued at approximately $25,328,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a research report on Monday, July 6th. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of Signet Jewelers in a report on Friday, May 29th. Wells Fargo & Company restated a “mixed” rating on shares of Signet Jewelers in a research note on Wednesday, June 3rd. UBS Group decreased their price target on Signet Jewelers from $126.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Finally, Raymond James Financial started coverage on Signet Jewelers in a report on Thursday, July 23rd. They set an “outperform” rating and a $105.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Signet Jewelers presently has an average rating of “Moderate Buy” and a consensus target price of $112.00.

Signet Jewelers Stock Up 0.8%

Shares of NYSE SIG opened at $98.85 on Thursday. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.15. Signet Jewelers Limited has a 52 week low of $71.61 and a 52 week high of $110.20. The firm has a 50-day moving average price of $86.88 and a 200 day moving average price of $88.64.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.18. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the business posted $1.18 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Equities research analysts expect that Signet Jewelers Limited will post 10.65 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, July 24th will be issued a $0.35 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. Signet Jewelers’s dividend payout ratio is currently 19.64%.

About Signet Jewelers

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.