Signet Jewelers (NYSE:SIG) Trading Down 3.2% - Here's What Happened

Signet Jewelers Limited (NYSE:SIG - Get Free Report)'s share price was down 3.2% on Thursday . The stock traded as low as $77.77 and last traded at $78.14. Approximately 319,934 shares changed hands during trading, a decline of 63% from the average daily volume of 857,751 shares. The stock had previously closed at $80.71.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SIG. Wells Fargo & Company lifted their target price on shares of Signet Jewelers from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. UBS Group cut their price objective on Signet Jewelers from $145.00 to $132.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Bank of America decreased their target price on Signet Jewelers from $108.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, September 13th. StockNews.com cut Signet Jewelers from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $87.00 price objective on shares of Signet Jewelers in a report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $109.60.

Signet Jewelers Trading Down 3.3 %

The business has a 50-day moving average price of $91.28 and a two-hundred day moving average price of $88.82. The company has a market cap of $3.39 billion, a P/E ratio of 8.98, a P/E/G ratio of 1.04 and a beta of 2.10. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its earnings results on Thursday, December 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.05). Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business's revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts predict that Signet Jewelers Limited will post 9.88 EPS for the current year.

Signet Jewelers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, January 24th will be given a $0.29 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.16 annualized dividend and a dividend yield of 1.49%. Signet Jewelers's dividend payout ratio is currently 13.35%.

Insider Buying and Selling

In related news, Director Eugenia Ulasewicz sold 3,333 shares of the firm's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the sale, the director now owns 26,085 shares of the company's stock, valued at approximately $2,598,848.55. This trade represents a 11.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Virginia Drosos sold 600 shares of Signet Jewelers stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $101.25, for a total value of $60,750.00. Following the transaction, the chief executive officer now owns 728,220 shares in the company, valued at approximately $73,732,275. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,170 shares of company stock valued at $1,573,500 over the last three months. Company insiders own 3.26% of the company's stock.

Hedge Funds Weigh In On Signet Jewelers

Several institutional investors have recently modified their holdings of SIG. MidWestOne Financial Group Inc. raised its stake in shares of Signet Jewelers by 63.3% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 16,974 shares of the company's stock valued at $1,521,000 after purchasing an additional 6,579 shares during the period. Van ECK Associates Corp acquired a new stake in Signet Jewelers in the 2nd quarter valued at approximately $1,797,000. Blueshift Asset Management LLC acquired a new position in Signet Jewelers during the 3rd quarter worth approximately $2,853,000. Ensign Peak Advisors Inc boosted its position in Signet Jewelers by 94.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 30,483 shares of the company's stock worth $2,731,000 after acquiring an additional 14,775 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of Signet Jewelers during the 3rd quarter worth approximately $977,000.

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.