Entropy Technologies LP Invests $808,000 in Signet Jewelers Limited (NYSE:SIG)

Key Points

• Entropy Technologies LP has invested approximately $808,000 in Signet Jewelers Limited by acquiring 13,917 shares during the first quarter.
• Research firms have raised their target prices for Signet Jewelers, with Telsey Advisory Group setting a new price at $92.00 and Citigroup at $100.00, reflecting a positive outlook for the stock.
• Signet Jewelers announced a quarterly dividend of $0.32 per share, with a 1.6% yield, and has a high dividend payout ratio of 139.13%.

Entropy Technologies LP bought a new position in Signet Jewelers Limited (NYSE:SIG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,917 shares of the company's stock, valued at approximately $808,000.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its position in Signet Jewelers by 946.8% during the first quarter. Allworth Financial LP now owns 492 shares of the company's stock valued at $29,000 after purchasing an additional 445 shares in the last quarter. Headlands Technologies LLC purchased a new position in Signet Jewelers during the first quarter valued at approximately $36,000. Versant Capital Management Inc grew its position in Signet Jewelers by 40.5% during the first quarter. Versant Capital Management Inc now owns 773 shares of the company's stock valued at $45,000 after purchasing an additional 223 shares in the last quarter. Byrne Asset Management LLC purchased a new position in Signet Jewelers during the first quarter valued at approximately $45,000. Finally, Signaturefd LLC grew its position in 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 purchasing an additional 599 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on SIG. Telsey Advisory Group boosted their target price on shares of Signet Jewelers from $80.00 to $92.00 and gave the stock a "market perform" rating in a research report on Friday, July 25th. Bank of America boosted their target price on shares of Signet Jewelers from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Signet Jewelers from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Citigroup boosted their target price on shares of Signet Jewelers from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Wells Fargo & Company boosted their target price 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Signet Jewelers has an average rating of "Moderate Buy" and a consensus target price of $88.86.

Signet Jewelers Trading Up 4.5%

Shares of Signet Jewelers stock opened at $79.73 on Wednesday. The firm has a fifty day simple moving average of $80.12 and a 200-day simple moving average of $65.38. Signet Jewelers Limited has a 1-year low of $45.55 and a 1-year high of $106.28. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 86.66, a PEG ratio of 0.69 and a beta of 1.40.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.17. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. Signet Jewelers had a net margin of 0.63% and a return on equity of 22.41%. Signet Jewelers's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 earnings per share. As a group, research analysts predict that Signet Jewelers Limited will post 8.73 earnings per share for the current year.

Signet Jewelers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, July 25th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, July 25th. Signet Jewelers's dividend payout ratio is presently 139.13%.

Signet Jewelers 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.

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