Meritage Portfolio Management Invests $648,000 in Signet Jewelers Limited (NYSE:SIG)

Meritage Portfolio Management acquired a new position in Signet Jewelers Limited (NYSE:SIG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,034 shares of the company’s stock, valued at approximately $648,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. grew its position in shares of Signet Jewelers by 54.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 218,096 shares of the company’s stock valued at $22,494,000 after buying an additional 76,597 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Signet Jewelers by 36.3% in the fourth quarter. Nordea Investment Management AB now owns 132,070 shares of the company’s stock worth $10,704,000 after acquiring an additional 35,174 shares during the period. CX Institutional bought a new stake in Signet Jewelers in the third quarter valued at approximately $3,264,000. Charles Schwab Investment Management Inc. increased its position in Signet Jewelers by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 669,896 shares of the company’s stock valued at $69,093,000 after purchasing an additional 30,820 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in Signet Jewelers during the 3rd quarter valued at approximately $2,853,000.

Signet Jewelers Trading Down 0.9 %

NYSE:SIG opened at $56.40 on Thursday. Signet Jewelers Limited has a 12 month low of $54.44 and a 12 month high of $112.06. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 3.83 and a beta of 2.11. The firm has a fifty day simple moving average of $75.18 and a two-hundred day simple moving average of $84.59.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts expect that Signet Jewelers Limited will post 8.73 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, January 24th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, January 24th. Signet Jewelers’s payout ratio is 13.35%.

Analyst Ratings Changes

A number of research firms have recently commented on SIG. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Telsey Advisory Group cut their price target on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company decreased their price target on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Bank of America dropped their price objective on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.20.

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.