Charles Schwab Investment Management Inc. Has $107.96 Million Holdings in Signet Jewelers Limited (NYSE:SIG)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Signet Jewelers by 175%, owning over 1.85 million shares worth approximately $107.96 million.
• Signet Jewelers reported earnings of $1.18 per share for the latest quarter, surpassing analysts' expectations and reflecting a 2% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.32 per share, representing an annualized yield of 1.7%, despite a high payout ratio of 139.13%.

Charles Schwab Investment Management Inc. grew its position in shares of Signet Jewelers Limited (NYSE:SIG - Free Report) by 175.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,859,503 shares of the company's stock after purchasing an additional 1,183,214 shares during the quarter. Charles Schwab Investment Management Inc. owned 4.33% of Signet Jewelers worth $107,963,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Signet Jewelers by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company's stock worth $302,258,000 after acquiring an additional 389,852 shares during the last quarter. US Bancorp DE grew its holdings in shares of Signet Jewelers by 54.0% in the 1st quarter. US Bancorp DE now owns 30,181 shares of the company's stock worth $1,752,000 after acquiring an additional 10,583 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Signet Jewelers in the 1st quarter worth $1,095,000. XTX Topco Ltd grew its holdings in shares of Signet Jewelers by 660.0% in the 1st quarter. XTX Topco Ltd now owns 40,259 shares of the company's stock worth $2,337,000 after acquiring an additional 34,962 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Signet Jewelers by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 11,182 shares of the company's stock worth $649,000 after acquiring an additional 403 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on SIG. Bank of America lifted their target price on Signet Jewelers from $65.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. CL King began coverage on Signet Jewelers in a report on Monday, May 5th. They issued a "buy" rating and a $80.00 target price on the stock. Jefferies Financial Group began coverage on Signet Jewelers in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 target price on the stock. Wells Fargo & Company raised their target price on Signet Jewelers from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Finally, Citigroup raised their target price on Signet Jewelers from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.86.

Signet Jewelers Price Performance

SIG traded down $0.43 during trading on Thursday, reaching $82.85. 605,714 shares of the stock traded hands, compared to its average volume of 1,360,883. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 90.06, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. Signet Jewelers Limited has a fifty-two week low of $45.55 and a fifty-two week high of $106.28. The stock's 50-day simple moving average is $80.30 and its two-hundred day simple moving average is $65.50.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.17. The firm had revenue of $1.54 billion during 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%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 earnings per share. Research analysts anticipate that Signet Jewelers Limited will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, July 25th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. Signet Jewelers's payout ratio is currently 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.