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Signet Jewelers Ltd (SIG): Select Equity Group Ups Its Stake

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A newly amended 13G filing with the US Securities and Exchange Commission showed that Robert Joseph Caruso‘s Select Equity Group has acquired more shares of Signet Jewelers Ltd. (NYSE:SIG) and now owns 8.02 million, or 10.2% of the total amount of shares. The stake was increased from 5.98 million shares, or 7.5 % of the company’s outstanding stock, that Select Equity Group disclosed in an earlier filing.

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Signet Jewelers Limited is a big retailer of diamond jewelry that operates more than 3,600 stores under a variety of brands, such as Ernes Jones, Kay Jewelry, and H.Samuel to name a few, across the US, Canada, and the United Kingdom. Since the beginning of the year, Signet Jewelers’ stock has lost 12.47%. At the end of March, Goldman Sachs and Topeka Capital Markets boosted their price targets on the stock to $192.00 from $186.00 and to $170.00 from $169.00 , respectively, while maintaining their ‘Buy’ ratings.

The number of funds (among those we track) long Signet Jewelers Ltd. (NYSE:SIG) increased by six to 53 during the fourth quarter of 2015.   Select Equity Group disclosed the most valuable position, followed by Keith Meister’s Corvex Capital, with a $696.3 million stake. Other investors long the stock encompass Thomas Steyer’s Farallon Capital, Alan Fournier’s Pennant Capital Management, Steve Cohen’s Point72 Asset Management, Michael A. Price and Amos Meron’s Empyrean Capital Partners, Ken Heebner’s Capital Growth Management, Gabriel Plotkin’s Melvin Capital Management, Gregg Moskowitz’s Interval Partners, and Benjamin A. Smith’s Laurion Capital Management.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Select Equity Group 0 8,017,072 0 8,017,072 8,017,072 10.2%
George S. Loening 0 8,017,072 0 8,017,072 8,017,072 10.2%

Robert Joseph Caruso
Robert Joseph Caruso
Select Equity Group

Page 1 of 6 – SEC Filing


 

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*

Signet Jewelers Ltd.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
G81276100
(CUSIP Number)
April 30, 2016
(Date of Event Which Requires Filing of This Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

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