Investec Asset Management PTY Ltd purchased a new position in Tiffany & Co. (NYSE:TIF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,070 shares of the specialty retailer’s stock, valued at approximately $1,229,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Tiffany & Co. by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,918,876 shares of the specialty retailer’s stock worth $1,135,869,000 after buying an additional 177,418 shares during the last quarter. BlackRock Inc. lifted its position in Tiffany & Co. by 2,886.2% in the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock worth $665,271,000 after buying an additional 6,747,028 shares during the last quarter. State Street Corp lifted its position in Tiffany & Co. by 0.3% in the first quarter. State Street Corp now owns 4,884,771 shares of the specialty retailer’s stock worth $465,549,000 after buying an additional 12,498 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Tiffany & Co. by 2.7% in the second quarter. First Eagle Investment Management LLC now owns 4,140,990 shares of the specialty retailer’s stock worth $388,715,000 after buying an additional 109,926 shares during the last quarter. Finally, FMR LLC lifted its position in Tiffany & Co. by 0.7% in the first quarter. FMR LLC now owns 2,463,909 shares of the specialty retailer’s stock worth $234,810,000 after buying an additional 17,572 shares during the last quarter. Institutional investors own 79.76% of the company’s stock.
A number of analysts recently issued reports on TIF shares. Bank of America Corporation restated a “buy” rating and issued a $110.00 price target on shares of Tiffany & Co. in a research report on Wednesday, June 28th. Cowen and Company restated an “outperform” rating and issued a $107.00 price target on shares of Tiffany & Co. in a research report on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $104.00 price target on shares of Tiffany & Co. in a research report on Thursday, June 1st. Zacks Investment Research downgraded Tiffany & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $92.81.
Shares of Tiffany & Co. (TIF) traded down 0.70% during trading on Friday, hitting $90.31. The stock had a trading volume of 3,931,953 shares. The stock has a market cap of $11.24 billion, a price-to-earnings ratio of 24.53 and a beta of 1.91. Tiffany & Co. has a 12 month low of $70.55 and a 12 month high of $97.29. The company’s 50 day moving average price is $91.31 and its 200 day moving average price is $91.90.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. The firm had revenue of $960.00 million during the quarter, compared to the consensus estimate of $930.19 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Equities research analysts expect that Tiffany & Co. will post $3.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.21%. Tiffany & Co.’s dividend payout ratio (DPR) is presently 54.35%.
In other news, major shareholder Qatar Investment Authority sold 4,400,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $94.16, for a total transaction of $414,304,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francesco Trapani acquired 25,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were bought at an average price of $91.84 per share, with a total value of $2,296,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 241,064 shares of company stock valued at $21,467,464 in the last quarter. Insiders own 1.40% of the company’s stock.
Tiffany & Co. Company Profile
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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