Top 5 Stocks To Buy According to Ken Heebner’s Capital Growth Management

4. Signet Jewelers Limited (NYSE:SIG)

Capital Growth Management’s Stake Value: $36,356,000

Percentage of Capital Growth Management’s 13F Portfolio: 3.27%

Number of Hedge Fund Holders: 33

Signet Jewelers Limited (NYSE:SIG) is a top stock pick of Ken Heebner, and the largest retailer of diamond jewellery in the world. Catering mainly to the middle market jewellery segment, Signet Jewelers Limited (NYSE:SIG) has stores across the United States, the UK, Canada, the Republic of Ireland, and Channel Islands. Signet Jewelers Limited (NYSE:SIG) owns and operates multiple brands under its banner including Zales, Jared, and JamesAllen.com, among others. Capital Growth Management owns 450,000 shares in Signet Jewelers Limited (NYSE:SIG), worth $36.35 million, representing 3.27% of the firm’s portfolio at the end of June. 

UBS analyst Mauricio Serna initiated coverage of Signet Jewelers Limited (NYSE:SIG) with a Buy rating and a $140 price target. The analyst believes that Signet Jewelers Limited (NYSE:SIG) is positioned to experience increased sales over the next four years due to its attractive pricing, strong store footprint, and a healthy balance sheet. 

As of the second quarter, 33 hedge funds were bullish on Signet Jewelers Limited (NYSE:SIG), up from 26 in the preceding quarter.