Wedge Capital Management L L P NC Invests $608,000 in Signet Jewelers Ltd. (SIG)

Wedge Capital Management L L P NC acquired a new stake in Signet Jewelers Ltd. (NYSE:SIG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,229 shares of the company’s stock, valued at approximately $608,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SIG. Nisa Investment Advisors LLC purchased a new stake in shares of Signet Jewelers during the second quarter worth about $112,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Signet Jewelers during the second quarter worth about $132,000. NuWave Investment Management LLC grew its holdings in shares of Signet Jewelers by 140.1% during the third quarter. NuWave Investment Management LLC now owns 2,840 shares of the company’s stock worth $187,000 after buying an additional 1,657 shares in the last quarter. St. Johns Investment Management Company LLC purchased a new stake in shares of Signet Jewelers during the second quarter worth about $193,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Signet Jewelers during the second quarter worth about $206,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

SIG opened at $57.28 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 2.69. Signet Jewelers Ltd. has a 1 year low of $33.11 and a 1 year high of $77.94. The company has a market capitalization of $3.13 billion, a P/E ratio of 11.94, a P/E/G ratio of 2.19 and a beta of 0.91.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, August 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.32. Signet Jewelers had a negative net margin of 2.84% and a positive return on equity of 17.52%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned $1.33 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that Signet Jewelers Ltd. will post 4.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 2nd will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $1.48 annualized dividend and a dividend yield of 2.58%. Signet Jewelers’s dividend payout ratio is presently 22.73%.

SIG has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Signet Jewelers from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, August 21st. TheStreet upgraded shares of Signet Jewelers from a “d+” rating to a “c-” rating in a report on Tuesday, August 21st. Wells Fargo & Co reiterated a “hold” rating and set a $65.00 price target (up from $50.00) on shares of Signet Jewelers in a report on Thursday, August 30th. Telsey Advisory Group reiterated a “market perform” rating and set a $69.00 price target (up from $63.00) on shares of Signet Jewelers in a report on Friday, August 31st. Finally, Nomura downgraded shares of Signet Jewelers from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Tuesday, July 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $55.13.

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Signet Jewelers Profile

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands, as well as JamesAllen.com, an online jewelry retailer Website.

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Institutional Ownership by Quarter for Signet Jewelers (NYSE:SIG)

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