Investec Asset Management PTY Ltd Invests $1.23 Million in Tiffany & Co. (TIF) Stock

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%.

WARNING: “Investec Asset Management PTY Ltd Invests $1.23 Million in Tiffany & Co. (TIF) Stock” was originally published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://transcriptdaily.com/2017/09/17/investec-asset-management-pty-ltd-invests-1-23-million-in-tiffany-co-tif-stock.html.

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.

Want to see what other hedge funds are holding TIF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tiffany & Co. (NYSE:TIF).

Institutional Ownership by Quarter for Tiffany & Co. (NYSE:TIF)

Receive News & Ratings for Tiffany & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tiffany & Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply