Bank of New York Mellon Corp cut its stake in Tiffany & Co. (NYSE:TIF) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,080,158 shares of the specialty retailer’s stock after selling 3,943 shares during the period. Bank of New York Mellon Corp owned 0.87% of Tiffany & Co. worth $99,137,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of TIF. Rhumbline Advisers grew its position in Tiffany & Co. by 2.9% in the 3rd quarter. Rhumbline Advisers now owns 219,481 shares of the specialty retailer’s stock worth $20,144,000 after purchasing an additional 6,236 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Tiffany & Co. in the 3rd quarter worth approximately $7,922,000. Toronto Dominion Bank grew its position in Tiffany & Co. by 8.5% in the 3rd quarter. Toronto Dominion Bank now owns 39,933 shares of the specialty retailer’s stock worth $3,664,000 after purchasing an additional 3,124 shares during the period. New York State Common Retirement Fund grew its position in Tiffany & Co. by 1.4% in the 3rd quarter. New York State Common Retirement Fund now owns 251,150 shares of the specialty retailer’s stock worth $23,051,000 after purchasing an additional 3,500 shares during the period. Finally, Sei Investments Co. grew its position in shares of Tiffany & Co. by 75.5% during the 3rd quarter. Sei Investments Co. now owns 25,255 shares of the specialty retailer’s stock valued at $2,318,000 after acquiring an additional 10,865 shares during the period. Institutional investors and hedge funds own 81.04% of the company’s stock.
Shares of Tiffany & Co. (NYSE:TIF) traded down $1.71 during trading hours on Tuesday, reaching $95.54. 1,993,400 shares of the company traded hands, compared to its average volume of 1,678,816. The company has a market cap of $12,085.98, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 2.26 and a beta of 1.93. Tiffany & Co. has a one year low of $76.08 and a one year high of $98.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.44 and a quick ratio of 2.09.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings results on Wednesday, November 29th. The specialty retailer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $976.20 million for the quarter, compared to the consensus estimate of $957.18 million. Tiffany & Co. had a net margin of 11.46% and a return on equity of 15.77%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. analysts predict that Tiffany & Co. will post 3.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 20th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. Tiffany & Co.’s dividend payout ratio is currently 53.76%.
In related news, Director Robert S. Singer bought 1,000 shares of the company’s stock in a transaction on Monday, September 25th. The shares were acquired at an average cost of $88.13 per share, for a total transaction of $88,130.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the company’s stock in a transaction dated 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. 1.30% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Tiffany & Co. in a research report on Tuesday, October 17th. KeyCorp raised shares of Tiffany & Co. from a “sector weight” rating to an “overweight” rating and upped their target price for the stock from $94.50 to $115.00 in a report on Friday. Cowen set a $102.00 target price on shares of Tiffany & Co. and gave the stock a “buy” rating in a report on Wednesday, October 18th. Oppenheimer reaffirmed a “buy” rating and issued a $105.00 target price on shares of Tiffany & Co. in a report on Wednesday, November 29th. Finally, Susquehanna Bancshares began coverage on shares of Tiffany & Co. in a report on Thursday, November 2nd. They issued a “neutral” rating and a $100.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $98.69.
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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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