Tufton Capital Management reduced its stake in shares of Tiffany & Co. (NYSE:TIF) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,785 shares of the specialty retailer’s stock after selling 235 shares during the quarter. Tufton Capital Management’s holdings in Tiffany & Co. were worth $1,103,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Egerton Capital UK LLP purchased a new stake in shares of Tiffany & Co. during the 1st quarter valued at about $327,249,000. FMR LLC raised its holdings in shares of Tiffany & Co. by 12.5% during the 1st quarter. FMR LLC now owns 2,606,628 shares of the specialty retailer’s stock valued at $275,129,000 after buying an additional 289,959 shares during the period. OppenheimerFunds Inc. raised its holdings in shares of Tiffany & Co. by 0.5% during the 1st quarter. OppenheimerFunds Inc. now owns 2,557,422 shares of the specialty retailer’s stock valued at $269,936,000 after buying an additional 11,966 shares during the period. Northern Trust Corp raised its holdings in shares of Tiffany & Co. by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,476,226 shares of the specialty retailer’s stock valued at $155,817,000 after buying an additional 8,970 shares during the period. Finally, Geode Capital Management LLC grew its stake in Tiffany & Co. by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,417,866 shares of the specialty retailer’s stock valued at $113,952,000 after purchasing an additional 26,103 shares in the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.
In other news, Director Abby F. Kohnstamm sold 11,912 shares of Tiffany & Co. stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $90.70, for a total value of $1,080,418.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew W. Hart sold 2,665 shares of Tiffany & Co. stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $90.53, for a total value of $241,262.45. Following the completion of the transaction, the insider now owns 13,522 shares of the company’s stock, valued at approximately $1,224,146.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 264,577 shares of company stock valued at $24,346,681. Insiders own 1.30% of the company’s stock.
TIF has been the subject of a number of recent analyst reports. Citigroup lowered Tiffany & Co. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $115.00 to $100.00 in a research note on Monday, July 15th. Loop Capital lowered Tiffany & Co. from a “buy” rating to a “hold” rating and lowered their price objective for the company from $110.00 to $91.85 in a research note on Tuesday, June 25th. HSBC set a $122.00 price objective on Tiffany & Co. and gave the company a “buy” rating in a research note on Friday, June 14th. UBS Group set a $98.00 price objective on Tiffany & Co. and gave the company a “hold” rating in a research note on Tuesday, June 11th. Finally, Sanford C. Bernstein initiated coverage on Tiffany & Co. in a research note on Tuesday, April 16th. They set an “outperform” rating and a $125.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Tiffany & Co. has a consensus rating of “Buy” and a consensus target price of $112.21.
Shares of TIF traded down $0.28 during mid-day trading on Wednesday, hitting $88.32. The stock had a trading volume of 49,904 shares, compared to its average volume of 1,245,217. The stock has a market capitalization of $10.67 billion, a P/E ratio of 19.08, a PEG ratio of 1.68 and a beta of 1.56. The company’s fifty day moving average price is $92.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.36 and a current ratio of 4.17. Tiffany & Co. has a fifty-two week low of $73.04 and a fifty-two week high of $138.41.
Tiffany & Co. (NYSE:TIF) last issued its earnings results on Tuesday, June 4th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Tiffany & Co. had a return on equity of 18.11% and a net margin of 12.90%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. On average, equities analysts anticipate that Tiffany & Co. will post 4.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Thursday, June 20th were given a $0.58 dividend. This is a positive change from Tiffany & Co.’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, June 19th. This represents a $2.32 annualized dividend and a dividend yield of 2.63%. Tiffany & Co.’s dividend payout ratio (DPR) is presently 50.22%.
About Tiffany & Co.
Tiffany & Co, through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells watches, home and accessories products, eyewear, and fragrances; and wholesales diamonds and earnings.
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