The New Green Equity Investors Vi Holding in Signet Jewelers Ltd
Green Equity Investors Vi filed with the SEC SC 13D form for Signet Jewelers Ltd. The form can be accessed here: 000119312516736982. As reported in Green Equity Investors Vi’s form, the filler as of late owns 8.8% or 6,658,059 shares of the Consumer Discretionary–company.
Signet Jewelers Ltd stake is a new one for the and it was filed because of activity on October5, 2016. We feel this shows Green Equity Investors Vi’s positive view for the stock.
Reasons Why Green Equity Investors Vi Bought – Signet Jewelers Ltd Stock
PURPOSE OF TRANSACTION
The Investors and the other Reporting Persons acquiredthe Series A Preference Shares for investment purposes pursuant to the investment agreement entered into by and among GEI VI, GEI Side VI, and the Issuer on August24, 2016 (the “Investment Agreement”). The Investors andcertain of the Reporting Persons, including Jonathan D. Sokoloff, intend to participate in the management of the Issuer through representation on the Issuer’s board of directors (the “Board”). For further information, see Items2 and 6 hereof and the Investment Agreement filed herewith as Exhibit 7.1.
GEI VI, GEI Side VI, Associates VI-A andAssociates VI-B have agreed, pursuant to the shareholders’ agreement by and among the Issuer, GEI VI and GEI Side VI, dated as of October5, 2016 and filed herewith as Exhibit 7.2 (the “Shareholders’ Agreement”), tovote all shares of the Issuer’s capital stock that the Investors are entitled to vote at any meeting of the shareholders of the Issuer: (i)in favor of directors nominated and recommended by the Issuer’s nomination and corporategovernance committee, (ii)against removal of directors designated by the Issuer’s nomination and corporate governance committee, (iii)against any shareholder nominations for directors that are not approved and recommended by theBoard, (iv)in favor of the Issuer’s “say-on-pay” proposal and any proposal by the Issuer relating to equity compensation that has been approved by the Issuer’s compensation committee, (v)in favor of the Issuer’sproposal for ratification of the appointment of the Issuer’s independent registered public accounting firm, and (vi)in accordance with the recommendation of the Board with respect to any proposed business combination between the Issuerand any other person. The Investors are otherwise entitled to vote their shares of the Issuer as they see fit, in their sole discretion. For further information, see Item6 hereof, and the Shareholders’ Agreement filed herewith as Exhibit7.2.
The parties to the Shareholders’ Agreement have agreed, pursuant to the Shareholders’ Agreement, until the later of(x)three years after the closing of the transactions contemplated by the Investment Agreement and (y)the date on which no nominee designated by the Investors serves on the Board and the Investors are no longer entitled to designate anydirector for nomination (or the Investors have irrevocably waived such right), not to acquire or agree, offer, or propose to acquire beneficial ownership of two percent or more of the Issuer’s voting securities, excluding any Common Shares orother securities acquired pursuant to a conversion
|CUSIP No. G81276100||Schedule13D||Page 15 of 25 Pages|
of the Series A Preference Shares, bonus issue, dividend or distribution by the Issuer or otherwise acquired pursuant to the Investment Agreement, the Shareholders’ Agreement, thecertificate of designation of the Issuer filed herewith as Exhibit 7.3 (the “Certificate of Designation”), or the Registration Rights Agreement by and among the Issuer, GEI VI, GEI Side VI, Associates VI-A and Associates VI-B, datedas of October5, 2016 and filed herewith as Exhibit 7.4 (the “Registration Rights Agreement”). For further information, see Item6 hereof, and the Shareholders’ Agreement filed herewith as Exhibit 7.2.
Pursuant to the Certificate of Designation, the holders of Series A Preference Shares are entitled to anti-dilutive protections with respectto the Issuers’ securities.
The Registration Rights Agreement provides the holders of Series A Preference Shares that are party tosuch agreement with certain registration rights with respect to securities of the Issuer. For further information, see Item6, and the Registration Rights Agreement filed herewith as Exhibit 7.4.
Except as disclosed in this Item4, none of GEI VI, GEI Side VI, Associates VI-A, Associates VI-B, nor any of the other Reporting Personshas any current plans or proposals which relate to or would result in any of the events described in clauses (a)through (j)of the instructions to Item4 of Schedule 13D. The Reporting Persons, however, will take such actions withrespect to the Reporting Persons’ investments in the Issuer, consistent with the agreements described above, as deemed appropriate in light of existing circumstances from time to time and subject thereto, and reserve the right to acquire ordispose of securities of the Issuer, to enter into hedging relationships with respect to such securities, or to formulate other purposes, plans or proposals in the future depending on market conditions and/or other factors.
|CUSIP No. G81276100||Schedule13D||Page 16 of 25 Pages|
Signet Jewelers Ltd Institutional Sentiment
Latest Security and Exchange filings show 352 investors own Signet Jewelers Ltd. The institutional ownership in Q3 2015 is very high, at 88.63% of the outstanding shares. This is decreased by 5413422 the total institutional shares. 67002082 were the shares owned by these institutional investors. In total 65 funds opened new Signet Jewelers Ltd stakes, 133 increased stakes. There were 42 that closed positions and 123 reduced them.
14 managers had the stock in their top Ten. Notable investors are: Abrams Bison Investments Llc, Select Equity Group L.P., Springowl Associates Llc, Buckingham Capital Management Inc, Hengistbury Investment Partners Llp, Marcato Capital Management Lp, Corvex Management Lp, Dynamo Internacional Gestao De Recursos Ltda., Farallon Capital Management Llc, Scopus Asset Management L.P…
Alan Fournier Pennant Capital Management Llc is an institutional investor bullish on Signet Jewelers Ltd, owning 2108085 shares as of Q3 2015 for 6.07% of its portfolio. Gavin M. Abrams Abrams Bison Investments Llc owns 885000 shares or 13.22% of its portfolio. PA Veritable Lp have 0.03% of their stock portfolio for 8552 shares. Further, World Asset Management Inc reported stake worth 0.05% of its US stock portfolio. The MI Azimuth Capital Management Llc owns 19650 shares. Signet Jewelers Ltd is 0.28% of the manager’s US portfolio.
Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones. The Company operates retail jewelry stores in various real estate formats, including mall-based, free-standing, strip center and outlet store locations. It operates approximately 3,620 stores and kiosks across approximately five million square feet of retail space. The Sterling Jewelers division operates approximately 1,540 stores. Its stores operate nationally in malls and off-mall locations as Kay Jewelers, and regionally under various mall-based brands. Zale Jewelry consists of brands, including Zales Jewelers and Zales Outlet.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment decreased to 0.97 in Q2 2016. Its down 0.28, from 1.25 in 2016Q1. The ratio dived, as 84 funds sold all Signet Jewelers Ltd. shares owned while 114 reduced positions. 56 funds bought stakes while 136 increased positions. They now own 77.93 million shares or 3.70% more from 75.15 million shares in 2016Q1.
Franklin Res holds 0% of its portfolio in Signet Jewelers Ltd. (NYSE:SIG) for 3,626 shares. Wells Fargo Mn holds 0.01% or 220,452 shares in its portfolio. Gerstein Fisher last reported 0.03% of its portfolio in the stock. Gotham Asset Management Ltd Liability Corporation reported 206,890 shares or 0.2% of all its holdings. Kbc Grp Inc Nv holds 5,867 shares or 0.01% of its portfolio. Mitsubishi Ufj & Banking Corporation holds 0.03% of its portfolio in Signet Jewelers Ltd. (NYSE:SIG) for 149,380 shares. Hodges Capital Management last reported 3,200 shares in the company. Ameriprise has invested 0.01% of its portfolio in Signet Jewelers Ltd. (NYSE:SIG). Moreover, Gemmer Asset Mngmt Llc has 0% invested in Signet Jewelers Ltd. (NYSE:SIG) for 49 shares. United Serv Automobile Association, a Texas-based fund reported 37,481 shares. Jefferies Group Ltd Co has 44,118 shares for 0.02% of their US portfolio. Mizuho And Bk Limited owns 120,989 shares or 0.03% of their US portfolio. Moreover, Barclays Public Ltd Liability Co has 0.01% invested in Signet Jewelers Ltd. (NYSE:SIG) for 83,961 shares. Melvin Mgmt Limited Partnership has 600,000 shares for 1.59% of their US portfolio. Moreover, Henderson Public Limited Company has 0.01% invested in Signet Jewelers Ltd. (NYSE:SIG) for 8,466 shares.
Insider Transactions: Since June 7, 2016, the stock had 16 buys, and 0 selling transactions for $1.35 million net activity. 475 shares were bought by Becker Steven J., worth $39,319 on Tuesday, June 14. Shares for $99,498 were bought by Santana Michele on Monday, June 13. On Tuesday, June 7 the insider LIGHT MARK bought $249,779. The insider Murray George bought 1,100 shares worth $97,086. Shares for $300,150 were bought by Stitzer H. Todd on Tuesday, June 7. Dennison Judith Lynn also bought $41,177 worth of Signet Jewelers Ltd. (NYSE:SIG) shares. 300 shares with value of $26,664 were bought by PLASKETT THOMAS G on Friday, July 22.
The stock increased 0.82% or $0.66 during the last trading session, hitting $81.06. Signet Jewelers Ltd. (NYSE:SIG) has declined 26.07% since March 10, 2016 and is downtrending. It has underperformed by 33.59% the S&P500.
Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The company has a market cap of $6.04 billion. The Company’s divisions are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment. It has a 12.37 P/E ratio. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones.
Signet Jewelers Ltd. (NYSE:SIG) Ratings Coverage
Out of 15 analysts covering Signet Jewelers (NYSE:SIG), 10 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 67% are positive. $9700 is the highest target while $83 is the lowest. The $120.60 average target is 48.78% above today’s ($81.06) stock price. Signet Jewelers has been the topic of 32 analyst reports since July 28, 2015 according to StockzIntelligence Inc. On Friday, August 26 the stock rating was maintained by RBC Capital Markets with “Outperform”. As per Thursday, October 22, the company rating was initiated by Wells Fargo. Telsey Advisory Group maintained Signet Jewelers Ltd. (NYSE:SIG) on Friday, August 26 with “Outperform” rating. Cowen & Co maintained the stock with “Outperform” rating in Friday, August 26 report. The company was maintained on Tuesday, May 31 by Nomura. The firm has “Neutral” rating given on Friday, September 9 by BNP Paribas. The firm has “Buy” rating given on Monday, November 9 by Johnson Rice. The stock of Signet Jewelers Ltd. (NYSE:SIG) earned “Buy” rating by Deutsche Bank on Tuesday, July 28. The firm has “Conviction Buy” rating given on Thursday, October 29 by Goldman Sachs. Citigroup initiated it with “Buy” rating and $170 target price in Wednesday, October 7 report.
More recent Signet Jewelers Ltd. (NYSE:SIG) news were published by: Fool.com which released: “Why Signet Jewelers Ltd. Stock Slumped Today” on May 26, 2016. Also Forbes.com published the news titled: “Signet Jewelers Enters Oversold Territory” on June 02, 2016. Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered …” with publication date: September 20, 2016 was also an interesting one.
According to Zacks Investment Research, “Signet Jewelers Ltd. is engaged in retailing of jewelry, watches and associated services. The company operates primarily in the United States, the United Kingdom, the Republic of Ireland and the Channel Islands. Signet Jewelers Ltd., formerly known as Signet Group PLC, is based in Hamilton, Bermuda.”
SIG Company Profile
Signet Jewelers Limited, incorporated on June 25, 2008, is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s divisions are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones. The Firm operates retail jewelry stores in various real estate formats, including mall-based, free-standing, strip center and outlet store locations. The Firm operates approximately 3,620 stores and kiosks across over five million square feet of retail space.
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