Entropy Technologies LP Boosts Stock Holdings in Signet Jewelers Limited $SIG

Key Points

• Entropy Technologies LP increased its Signet Jewelers stake by 165% in the first quarter, holding 22,436 shares valued at approximately $1.9 million. Several other institutional investors also expanded their positions.
• Signet reported quarterly earnings of $1.56 per share, exceeding analyst expectations of $1.38, while revenue reached $1.55 billion and rose 0.8% year over year.
• The company declared a quarterly dividend of $0.35, equivalent to $1.40 annually and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $112, compared with the stock’s $91.08 opening price.

Entropy Technologies LP lifted its position in Signet Jewelers Limited (NYSE:SIG - Free Report) by 165.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,436 shares of the company's stock after purchasing an additional 13,971 shares during the period. Entropy Technologies LP owned about 0.06% of Signet Jewelers worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management raised its position 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 worth $89,332,000 after acquiring an additional 510,551 shares during the period. Clark Capital Management Group Inc. purchased a new position in shares of Signet Jewelers in the 4th quarter valued at about $35,815,000. UBS Group AG increased its stake in shares of Signet Jewelers by 185.4% in the 4th 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 in the last quarter. Victory Capital Management Inc. raised its holdings in Signet Jewelers by 90.7% in the 4th quarter. Victory Capital Management Inc. now owns 639,771 shares of the company's stock worth $53,024,000 after purchasing an additional 304,288 shares during the period. Finally, Summit Street Capital Management LLC acquired a new position in Signet Jewelers in the 3rd quarter worth about $25,328,000.

Signet Jewelers Stock Down 0.2%

Shares of NYSE SIG opened at $91.08 on Monday. The firm has a 50-day simple moving average of $85.57 and a 200-day simple moving average of $88.51. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.95 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.

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

Signet Jewelers Dividend Announcement

The business 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. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, July 24th. Signet Jewelers's dividend payout ratio (DPR) is currently 19.64%.

Wall Street Analyst Weigh In

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

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.

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