Mackenzie Financial Corp Trims Stake in Signet Jewelers Limited (NYSE:SIG)

Key Points

• Mackenzie Financial Corp significantly reduced its stake in Signet Jewelers by 76.6%, holding only 3,557 shares worth approximately $207,000 after selling 11,670 shares.
• Multiple analysts have upgraded their ratings on Signet Jewelers, with a consensus rating of "Moderate Buy" and a target price of $88.86 following its recent earnings report.
• Signet Jewelers announced a quarterly dividend of $0.32, resulting in an annualized dividend yield of 1.7%.

Mackenzie Financial Corp lessened its holdings in Signet Jewelers Limited (NYSE:SIG - Free Report) by 76.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,557 shares of the company's stock after selling 11,670 shares during the quarter. Mackenzie Financial Corp's holdings in Signet Jewelers were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Signet Jewelers by 946.8% in the first quarter. Allworth Financial LP now owns 492 shares of the company's stock valued at $29,000 after acquiring an additional 445 shares during the period. Versant Capital Management Inc increased its position in shares of Signet Jewelers by 40.5% in the first quarter. Versant Capital Management Inc now owns 773 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares during the period. Byrne Asset Management LLC purchased a new position in shares of Signet Jewelers in the first quarter valued at about $45,000. Signaturefd LLC boosted its stake in shares of Signet Jewelers by 174.1% during the 1st 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. Finally, Sterling Capital Management LLC boosted its stake in shares of Signet Jewelers by 832.9% during 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 in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SIG. CL King began coverage on shares of Signet Jewelers in a research note on Monday, May 5th. They set a "buy" rating and a $80.00 target price on the stock. Telsey Advisory Group raised their target price on Signet Jewelers from $80.00 to $92.00 and gave the company a "market perform" rating in a research note on Friday, July 25th. Wall Street Zen raised Signet Jewelers from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Citigroup raised their price objective on Signet Jewelers from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, UBS Group upped their target price on shares of Signet Jewelers from $84.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Signet Jewelers presently has a consensus rating of "Moderate Buy" and an average target price of $88.86.

Signet Jewelers Price Performance

SIG stock traded up $3.40 on Tuesday, reaching $79.73. 627,515 shares of the company traded hands, compared to its average volume of 821,128. The company has a market cap of $3.28 billion, a P/E ratio of 86.66, a price-to-earnings-growth ratio of 0.69 and a beta of 1.40. Signet Jewelers Limited has a one year low of $45.55 and a one year high of $106.28. The firm has a fifty day simple moving average of $80.12 and a 200-day simple moving average of $65.38.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. On average, sell-side analysts forecast that Signet Jewelers Limited will post 8.73 EPS for the current year.

Signet Jewelers Announces Dividend

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