Baker Avenue Asset Management LP Invests $861,000 in Signet Jewelers Limited (SIG) Stock
Baker Avenue Asset Management LP acquired a new position in shares of Signet Jewelers Limited (NYSE:SIG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,616 shares of the company’s stock, valued at approximately $861,000.
Other institutional investors have also modified their holdings of the company. Commonwealth Bank of Australia grew its position in Signet Jewelers Limited by 5.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,609 shares of the company’s stock worth $101,000 after purchasing an additional 85 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Signet Jewelers Limited during the 1st quarter worth $115,000. FNY Managed Accounts LLC purchased a new position in Signet Jewelers Limited during the 1st quarter worth $153,000. Nordea Investment Management AB grew its position in Signet Jewelers Limited by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 2,699 shares of the company’s stock worth $187,000 after purchasing an additional 65 shares during the last quarter. Finally, ING Groep NV purchased a new position in Signet Jewelers Limited during the 2nd quarter worth $240,000.
Several brokerages have issued reports on SIG. BidaskClub downgraded shares of Signet Jewelers Limited from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Bank of America Corporation restated a “buy” rating and issued a $75.00 target price (down previously from $90.00) on shares of Signet Jewelers Limited in a research note on Sunday, May 28th. Needham & Company LLC set a $69.00 target price on shares of Signet Jewelers Limited and gave the stock a “buy” rating in a research note on Saturday, August 19th. Instinet restated a “buy” rating and issued a $73.00 target price (up previously from $70.00) on shares of Signet Jewelers Limited in a research note on Monday, August 28th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Signet Jewelers Limited in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $71.94.
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Signet Jewelers Limited (NYSE:SIG) last issued its quarterly earnings results on Thursday, August 24th. The company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.23. Signet Jewelers Limited had a net margin of 7.62% and a return on equity of 20.86%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company earned $1.14 EPS. Signet Jewelers Limited’s revenue was up 1.9% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, October 27th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, October 26th. Signet Jewelers Limited’s payout ratio is 19.14%.
Signet Jewelers Limited Profile
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.
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