Hudson Bay Capital Management LP Acquires Shares of 56,985 Signet Jewelers Limited (NYSE:SIG)

Hudson Bay Capital Management LP bought a new position in shares of Signet Jewelers Limited (NYSE:SIG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,985 shares of the company's stock, valued at approximately $4,599,000. Hudson Bay Capital Management LP owned 0.13% of Signet Jewelers as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Grace & White Inc. NY lifted its position in Signet Jewelers by 6.1% during the fourth quarter. Grace & White Inc. NY now owns 207,262 shares of the company's stock valued at $16,728,000 after buying an additional 11,900 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Signet Jewelers by 22.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 61,568 shares of the company's stock worth $4,969,000 after purchasing an additional 11,218 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of Signet Jewelers in the 4th quarter worth about $2,418,000. Norges Bank bought a new stake in shares of Signet Jewelers in the 4th quarter worth about $40,989,000. Finally, Van ECK Associates Corp raised its stake in Signet Jewelers by 30.5% during the fourth quarter. Van ECK Associates Corp now owns 36,655 shares of the company's stock worth $2,958,000 after acquiring an additional 8,574 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have commented on SIG shares. Cfra Research upgraded shares of Signet Jewelers to a "moderate buy" rating in a research report on Thursday, March 20th. Wells Fargo & Company raised their price target on shares of Signet Jewelers from $60.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday. UBS Group lifted their target price on shares of Signet Jewelers from $85.00 to $89.00 and gave the stock a "buy" rating in a report on Thursday, March 20th. Telsey Advisory Group restated a "market perform" rating and issued a $55.00 price target on shares of Signet Jewelers in a research report on Wednesday, March 19th. Finally, CL King started coverage on shares of Signet Jewelers in a research report on Monday, May 5th. They set a "buy" rating and a $80.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $79.67.

Insider Buying and Selling

In other Signet Jewelers news, CEO James Kevin Symancyk bought 15,000 shares of Signet Jewelers stock in a transaction dated Monday, March 31st. The stock was purchased at an average price of $57.45 per share, for a total transaction of $861,750.00. Following the completion of the purchase, the chief executive officer now directly owns 50,710 shares of the company's stock, valued at approximately $2,913,289.50. This trade represents a 42.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eugenia Ulasewicz sold 3,333 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the transaction, the director now owns 22,752 shares of the company's stock, valued at $1,231,565.76. This trade represents a 12.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.26% of the stock is owned by insiders.

Signet Jewelers Stock Down 1.4%

Shares of SIG stock traded down $0.92 during trading hours on Friday, hitting $66.11. 825,648 shares of the company were exchanged, compared to its average volume of 1,164,539. Signet Jewelers Limited has a 52 week low of $45.55 and a 52 week high of $112.06. The business has a 50 day moving average of $57.68 and a two-hundred day moving average of $68.78. The company has a market capitalization of $2.84 billion, a PE ratio of 7.61, a PEG ratio of 3.43 and a beta of 1.34. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $6.62 EPS for the quarter, beating analysts' consensus estimates of $6.39 by $0.23. The firm had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.33 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $6.73 earnings per share. Analysts anticipate that Signet Jewelers Limited will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, April 25th. This is a positive change from Signet Jewelers's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.94%. Signet Jewelers's dividend payout ratio is currently -168.42%.

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.