18,868 Shares in Signet Jewelers Limited (NYSE:SIG) Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd acquired 18,868 shares of Signet Jewelers Limited, valued at approximately $1,095,000, making it the firm's 21st largest position.
• Signet Jewelers reported earnings of $1.18 per share, exceeding estimates, with quarterly revenue of $1.54 billion, marking a 2.0% increase compared to the previous year.
• Research analysts have positive outlooks on Signet, with multiple firms raising their price targets, leading to a consensus rating of "Moderate Buy" and an average price target of $88.86.

Bayforest Capital Ltd acquired a new stake in shares of Signet Jewelers Limited (NYSE:SIG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,868 shares of the company's stock, valued at approximately $1,095,000. Signet Jewelers makes up about 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SIG. Allworth Financial LP lifted its holdings in shares of Signet Jewelers by 946.8% during the first quarter. Allworth Financial LP now owns 492 shares of the company's stock worth $29,000 after buying an additional 445 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Signet Jewelers by 40.5% in the 1st quarter. Versant Capital Management Inc now owns 773 shares of the company's stock valued at $45,000 after buying an additional 223 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in Signet Jewelers during the first quarter valued at approximately $45,000. Signaturefd LLC lifted its holdings in shares of Signet Jewelers by 174.1% during the first quarter. Signaturefd LLC now owns 943 shares of the company's stock valued at $55,000 after acquiring an additional 599 shares during the period. Finally, Sterling Capital Management LLC raised its position in Signet Jewelers by 832.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,362 shares of the company's stock valued at $110,000 after purchasing an additional 1,216 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Bank of America lifted their price objective on Signet Jewelers from $65.00 to $78.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Jefferies Financial Group assumed coverage on Signet Jewelers in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price target for the company. CL King assumed coverage on shares of Signet Jewelers in a report on Monday, May 5th. They issued a "buy" rating and a $80.00 target price on the stock. UBS Group lifted their price target on Signet Jewelers from $84.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company increased their price objective on shares of Signet Jewelers from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Signet Jewelers currently has a consensus rating of "Moderate Buy" and an average target price of $88.86.

Signet Jewelers Stock Performance

Shares of Signet Jewelers stock traded down $3.97 during mid-day trading on Friday, hitting $75.13. 1,093,540 shares of the stock were exchanged, compared to its average volume of 1,402,198. Signet Jewelers Limited has a 12 month low of $45.55 and a 12 month high of $106.28. The company has a 50-day simple moving average of $78.68 and a 200 day simple moving average of $64.36. The company has a market capitalization of $3.09 billion, a P/E ratio of 81.66, a P/E/G ratio of 0.71 and a beta of 1.39.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.17. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.52 billion. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%. Signet Jewelers's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. Analysts predict that Signet Jewelers Limited will post 8.73 EPS 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 paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, July 25th. Signet Jewelers's dividend payout ratio (DPR) is presently 139.13%.

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.