Signet Jewelers stock hits nine-month high on Taylor Swift engagement announcement

Shares of diamond jewelry retailer Signet Jewelers rose 3% yesterday, August 26, after American singer Taylor Swift announced her engagement to Kansas City Chiefs star Travis Kelce. Analysts say the stock could climb another 10%, even without Swift.

Signet Jewelers rose 3.12% yesterday on the New York Stock Exchange. Shares closed at $87.83 per share, their highest finish since December 6.

This came after American singer Taylor Swift announced her engagement to professional football player Travis Kelce. Swift posted a photo of her cushion-cut engagement ring on Instagram shortly after 13:00 New York time, sending the stock up about 0.9% within minutes.

The stock rose during the session, "presumably on a potential influx of Swifties looking for unique rings to mark their matrimony," CNBC suggested. That said, as the Daily Mail points out, the ring was made by a different, privately owned jewelry store, Artifex Fine Jewelry.  

Signet Jewelers, which calls itself the world’s largest diamond jewelry retailer, owns a portfolio of major brands including Kay Jewelers, Zales, Jared, and Blue Nile. The company’s market capitalization stands at about $3.6 billion, and its shares are up nearly 9% since the start of 2025.

According to InvestingPro data, the stock looks undervalued. Zacks has Signet’s forward P/E ratio at 9.58, versus an industry average of 18.26, meaning Signet shares trade at a discount.

On Monday, UBS reiterated its "buy" rating and $95 target price ahead of Signet’s second-quarter earnings. UBS analysts said market reaction to the earnings report will likely depend on Signet’s third-quarter outlook and quarter-to-date comparable sales trends, with positive or negative commentary potentially driving sentiment in either direction. UBS anticipates high volatility around the earnings, with options markets pricing in a potential 12.1% move in either direction, slightly higher than the historical average move of 11.1%, Investing.com reports.

Nine analysts currently cover Signet, MarketWatch data shows. Five recommend buying (three "buys" and two "overweights"), while four rate the stock a "hold." The average target price is $92.33 per share, about 5% above the current level.

This is not the first time Taylor Swift has drawn the attention of business and financial circles. Her record-breaking Eras Tour boosted consumer spending to the point that both Wall Street analysts and the Fed took notice.

The tour, which ran from mid-2023 through late 2024, was a boon to hotels near concert venues. This was mentioned by the Fed in its July 2023 Beige Book, while the Philadelphia Fed reported the strongest growth in hotel bookings since the pandemic.

"Taylor Swift is a force to be reckoned with," Julie Calvert, president and CEO of the tourism group Visit Cincy, told NBC in a statement. "The economic impact Swift creates is staggering, as fans travel from far and wide to attend her concerts, filling hotels, restaurants, and local attractions.

Swift’s influence on tourism is a testament to her ability to captivate audiences and drive economic growth."

The 14-time Grammy winner has also demonstrated her sway over media and marketing. In August, after she announced her next album, The Life of a Showgirl, major brands and sports teams adopted the orange color theme featured in her posts, the Associated Press reported, such as United Airlines and Olive Garden.

Google even built the theme into its search engine: users typing “Taylor Swift” into Chrome are greeted with a cascade of digital confetti, a flaming orange heart, and the phrase, “and, baby, that’s show business for you,” the line Swift used to announce the album.

The AI translation of this story was reviewed by a human editor.