Lakewood Capital Management LP Decreases Holdings in Signet Jewelers Limited $SIG

Lakewood Capital Management LP lessened its stake in shares of Signet Jewelers Limited (NYSE:SIG) by 24.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 486,300 shares of the company’s stock after selling 157,700 shares during the period. Signet Jewelers accounts for 3.5% of Lakewood Capital Management LP’s holdings, making the stock its 9th biggest position. Lakewood Capital Management LP’s holdings in Signet Jewelers were worth $46,646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mangrove Partners IM LLC purchased a new stake in Signet Jewelers in the third quarter worth about $974,000. Wellington Management Group LLP grew its stake in shares of Signet Jewelers by 346.8% during the 3rd quarter. Wellington Management Group LLP now owns 149,766 shares of the company’s stock valued at $14,366,000 after acquiring an additional 116,249 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Signet Jewelers during the 3rd quarter valued at approximately $2,529,000. Invesco Ltd. increased its holdings in Signet Jewelers by 3.8% in the 3rd quarter. Invesco Ltd. now owns 201,849 shares of the company’s stock worth $19,361,000 after acquiring an additional 7,419 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Signet Jewelers by 9.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 944,668 shares of the company’s stock worth $90,613,000 after acquiring an additional 82,899 shares in the last quarter.

Signet Jewelers Price Performance

SIG stock opened at $82.28 on Friday. Signet Jewelers Limited has a 1-year low of $46.62 and a 1-year high of $110.20. The business has a 50 day simple moving average of $92.40 and a two-hundred day simple moving average of $93.55. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 0.90 and a beta of 1.25.

Analysts Set New Price Targets

SIG has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a report on Wednesday, January 21st. Wall Street Zen raised shares of Signet Jewelers from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Company lowered their target price on shares of Signet Jewelers from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $96.00 target price on shares of Signet Jewelers in a report on Tuesday. Finally, UBS Group increased their price target on Signet Jewelers from $115.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.00.

About Signet Jewelers

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.