Municipal Employees Retirement System of Michigan trimmed its holdings in Tiffany & Co. (NYSE:TIF) by 22.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,640 shares of the specialty retailer’s stock after selling 780 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Tiffany & Co. were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in Tiffany & Co. by 12.6% in the second quarter. Russell Investments Group Ltd. now owns 98,715 shares of the specialty retailer’s stock worth $9,268,000 after purchasing an additional 11,037 shares during the period. Janney Montgomery Scott LLC lifted its position in Tiffany & Co. by 1.7% in the second quarter. Janney Montgomery Scott LLC now owns 6,619 shares of the specialty retailer’s stock worth $621,000 after purchasing an additional 113 shares during the period. State of New Jersey Common Pension Fund D bought a new position in Tiffany & Co. in the second quarter worth $1,408,000. Sei Investments Co. lifted its position in Tiffany & Co. by 215.0% in the second quarter. Sei Investments Co. now owns 14,390 shares of the specialty retailer’s stock worth $1,351,000 after purchasing an additional 9,822 shares during the period. Finally, Retirement Systems of Alabama lifted its position in Tiffany & Co. by 0.5% in the second quarter. Retirement Systems of Alabama now owns 51,975 shares of the specialty retailer’s stock worth $4,879,000 after purchasing an additional 239 shares during the period. 81.19% of the stock is owned by institutional investors.
In other Tiffany & Co. news, Director Francesco Trapani bought 25,000 shares of the stock in a transaction dated Tuesday, September 26th. The stock was bought at an average cost of $89.34 per share, for a total transaction of $2,233,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert S. Singer bought 1,000 shares of the stock in a transaction dated Monday, September 25th. The stock was acquired at an average price of $88.13 per share, with a total value of $88,130.00. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.
TIF has been the subject of several research reports. Jefferies Group set a $110.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Cowen set a $102.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a research report on Wednesday, October 18th. raised Tiffany & Co. from a “hold” rating to a “buy” rating and raised their target price for the stock from $90.00 to $110.00 in a research report on Monday, October 2nd. Oppenheimer reaffirmed a “buy” rating on shares of Tiffany & Co. in a research report on Friday, October 13th. Finally, Zacks Investment Research raised Tiffany & Co. from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research report on Monday, November 27th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Tiffany & Co. has an average rating of “Hold” and a consensus target price of $98.69.
Shares of Tiffany & Co. (TIF) traded down $0.84 during midday trading on Wednesday, hitting $95.50. The company’s stock had a trading volume of 1,049,900 shares, compared to its average volume of 1,666,069. The company has a market capitalization of $11,972.88, a PE ratio of 24.64, a PEG ratio of 2.24 and a beta of 1.93. Tiffany & Co. has a 12 month low of $76.08 and a 12 month high of $98.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 5.44.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, November 29th. The specialty retailer reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.04. The company had revenue of $976.20 million during the quarter, compared to analysts’ expectations of $957.18 million. Tiffany & Co. had a return on equity of 15.77% and a net margin of 11.46%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.76 earnings per share. equities analysts forecast that Tiffany & Co. will post 3.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 20th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. Tiffany & Co.’s payout ratio is presently 53.76%.
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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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