Sierra Summit Advisors LLC Invests $649,000 in Signet Jewelers Limited (NYSE:SIG)

Sierra Summit Advisors LLC acquired a new stake in Signet Jewelers Limited (NYSE:SIG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,250 shares of the company’s stock, valued at approximately $649,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in Signet Jewelers in the 2nd quarter valued at about $51,000. Hexagon Capital Partners LLC grew its holdings in Signet Jewelers by 33.4% in the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after purchasing an additional 175 shares during the period. Blue Trust Inc. increased its position in Signet Jewelers by 15.3% during the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after purchasing an additional 122 shares during the last quarter. Quadrant Capital Group LLC increased its position in Signet Jewelers by 55.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock worth $164,000 after purchasing an additional 544 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in Signet Jewelers during the second quarter worth approximately $180,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SIG shares. Bank of America dropped their price objective on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Friday. Telsey Advisory Group dropped their price target on Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating for the company in a research note on Monday, September 9th. Wells Fargo & Company reduced their price objective on Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. UBS Group decreased their target price on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Citigroup restated a “buy” rating and issued a $119.00 price target on shares of Signet Jewelers in a report on Friday, June 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.60.

Signet Jewelers Price Performance

Shares of NYSE SIG opened at $91.15 on Monday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 0.95 and a beta of 2.10. Signet Jewelers Limited has a 1-year low of $65.12 and a 1-year high of $112.06. The business has a 50-day moving average of $81.40 and a 200-day moving average of $92.08.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. Signet Jewelers’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 EPS. Research analysts expect that Signet Jewelers Limited will post 10.47 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. Signet Jewelers’s dividend payout ratio is currently 9.43%.

Insider Buying and Selling at Signet Jewelers

In other news, insider Joan M. Hilson sold 8,000 shares of Signet Jewelers stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $91.81, for a total transaction of $734,480.00. Following the sale, the insider now directly owns 189,231 shares of the company’s stock, valued at $17,373,298.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Rebecca Wooters sold 3,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $90.34, for a total transaction of $271,020.00. Following the completion of the transaction, the insider now directly owns 90,494 shares in the company, valued at approximately $8,175,227.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $91.81, for a total transaction of $734,480.00. Following the sale, the insider now directly owns 189,231 shares of the company’s stock, valued at approximately $17,373,298.11. The disclosure for this sale can be found here. Insiders sold a total of 57,439 shares of company stock valued at $4,809,869 in the last ninety days. Insiders own 3.26% of the company’s stock.

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.