SummerHaven Investment Management LLC Has $535,000 Stock Position in Signet Jewelers Limited (NYSE:SIG)

SummerHaven Investment Management LLC lifted its holdings in shares of Signet Jewelers Limited (NYSE:SIG) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,214 shares of the company’s stock after acquiring an additional 242 shares during the period. SummerHaven Investment Management LLC’s holdings in Signet Jewelers were worth $535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in Signet Jewelers by 40.5% during the 1st quarter. Versant Capital Management Inc now owns 773 shares of the company’s stock valued at $45,000 after purchasing an additional 223 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Signet Jewelers by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock valued at $57,000 after purchasing an additional 421 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Signet Jewelers by 832.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock valued at $110,000 after buying an additional 1,216 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Signet Jewelers by 32.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock worth $123,000 after buying an additional 410 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Signet Jewelers by 971.4% during the first quarter. GAMMA Investing LLC now owns 2,507 shares of the company’s stock worth $146,000 after buying an additional 2,273 shares in the last quarter.

Insiders Place Their Bets

In other Signet Jewelers news, CEO James Kevin Symancyk bought 15,000 shares of the stock in a transaction on Monday, March 31st. The shares were acquired at an average price of $57.45 per share, with a total value of $861,750.00. Following the acquisition, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at $2,913,289.50. The trade was a 42.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Helen Mccluskey purchased 1,700 shares of Signet Jewelers stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $58.86 per share, with a total value of $100,062.00. Following the completion of the transaction, the director now owns 31,916 shares of the company’s stock, valued at $1,878,575.76. This represents a 5.63% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SIG. Wells Fargo & Company raised their price objective on Signet Jewelers from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 4th. Cfra Research raised shares of Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. CL King began coverage on shares of Signet Jewelers in a research report on Monday, May 5th. They issued a “buy” rating and a $80.00 price objective for the company. Telsey Advisory Group increased their price objective on shares of Signet Jewelers from $62.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, June 3rd. Finally, UBS Group boosted their target price on Signet Jewelers from $84.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Signet Jewelers presently has an average rating of “Hold” and an average price target of $84.67.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $79.17 on Friday. Signet Jewelers Limited has a 52 week low of $45.55 and a 52 week high of $106.28. The firm’s 50-day simple moving average is $63.67 and its two-hundred day simple moving average is $65.15. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 3.43 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.17. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. Signet Jewelers’s revenue was up 2.0% on a year-over-year basis. As a group, equities analysts forecast that Signet Jewelers Limited will post 8.73 earnings per share for the current year.

Signet Jewelers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, July 25th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, July 25th. Signet Jewelers’s dividend payout ratio (DPR) is presently 139.13%.

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.