Gotham Asset Management LLC Grows Position in Tiffany & Co. (TIF)

Gotham Asset Management LLC lifted its stake in Tiffany & Co. (NYSE:TIF) by 50.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,723 shares of the specialty retailer’s stock after buying an additional 40,985 shares during the period. Gotham Asset Management LLC owned about 0.10% of Tiffany & Co. worth $11,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TIF. BlackRock Inc. lifted its stake in shares of Tiffany & Co. by 2,886.2% in the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock valued at $665,271,000 after buying an additional 6,747,028 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Tiffany & Co. by 9,785.1% in the second quarter. Janus Henderson Group PLC now owns 1,212,501 shares of the specialty retailer’s stock valued at $113,818,000 after buying an additional 1,200,235 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Tiffany & Co. in the first quarter valued at about $39,206,000. Cramer Rosenthal Mcglynn LLC bought a new stake in shares of Tiffany & Co. in the second quarter valued at about $30,981,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Tiffany & Co. by 21.0% in the second quarter. Victory Capital Management Inc. now owns 1,835,834 shares of the specialty retailer’s stock valued at $172,329,000 after buying an additional 318,238 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

Tiffany & Co. (TIF) traded up 0.50% on Friday, hitting $94.61. 1,297,205 shares of the stock were exchanged. The company has a 50-day moving average price of $91.00 and a 200 day moving average price of $91.99. Tiffany & Co. has a 1-year low of $71.46 and a 1-year high of $97.29. The company has a market capitalization of $11.78 billion, a PE ratio of 25.70 and a beta of 1.92.

Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.06. Tiffany & Co. had a net margin of 11.41% and a return on equity of 15.91%. The company had revenue of $960.00 million during the quarter, compared to the consensus estimate of $930.19 million. During the same quarter in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Tiffany & Co. will post $3.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Tuesday, September 19th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 54.35%.

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reiterated a “hold” rating on shares of Tiffany & Co. in a research note on Friday, July 7th. BidaskClub upgraded shares of Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Needham & Company LLC assumed coverage on shares of Tiffany & Co. in a research note on Tuesday, July 18th. They issued a “hold” rating for the company. Jefferies Group LLC set a $110.00 target price on shares of Tiffany & Co. and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, Zacks Investment Research upgraded shares of Tiffany & Co. from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, August 14th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Tiffany & Co. has a consensus rating of “Buy” and a consensus target price of $94.91.

In other news, Director Francesco Trapani purchased 35,000 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was bought at an average price of $89.34 per share, with a total value of $3,126,900.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders have bought 267,064 shares of company stock valued at $23,789,094. 1.40% of the stock is currently owned by insiders.

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

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