Tiffany & Co. (TIF) Announces Quarterly Earnings Results

Tiffany & Co. (NYSE:TIF) issued its earnings results on Friday, March 16th. The specialty retailer reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.04, Bloomberg Earnings reports. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. Tiffany & Co. had a net margin of 8.87% and a return on equity of 16.32%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 earnings per share. Tiffany & Co. updated its FY19 guidance to $4.25-4.45 EPS.

Shares of Tiffany & Co. stock traded down $2.54 during midday trading on Friday, hitting $95.58. The company had a trading volume of 2,686,836 shares, compared to its average volume of 2,425,521. The company has a market cap of $12,194.10, a price-to-earnings ratio of 23.14, a PEG ratio of 2.01 and a beta of 1.77. The company has a current ratio of 5.50, a quick ratio of 2.39 and a debt-to-equity ratio of 0.27. Tiffany & Co. has a 1-year low of $84.15 and a 1-year high of $111.44.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Tuesday, March 20th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.09%. Tiffany & Co.’s payout ratio is 48.43%.

In other Tiffany & Co. news, Director Abby F. Kohnstamm sold 10,000 shares of Tiffany & Co. stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $108.73, for a total transaction of $1,087,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philippe Galtie sold 673 shares of Tiffany & Co. stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $107.92, for a total value of $72,630.16. Following the completion of the transaction, the insider now directly owns 673 shares of the company’s stock, valued at $72,630.16. The disclosure for this sale can be found here. In the last 90 days, insiders bought 77,000 shares of company stock worth $7,437,830 and sold 139,636 shares worth $14,979,843. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in TIF. Victory Capital Management Inc. increased its position in Tiffany & Co. by 12.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,534,545 shares of the specialty retailer’s stock worth $263,466,000 after purchasing an additional 287,224 shares during the period. Investec Asset Management LTD increased its position in Tiffany & Co. by 6.4% in the fourth quarter. Investec Asset Management LTD now owns 2,436,956 shares of the specialty retailer’s stock worth $253,322,000 after purchasing an additional 146,663 shares during the period. Cramer Rosenthal Mcglynn LLC increased its position in Tiffany & Co. by 13.8% in the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,491,675 shares of the specialty retailer’s stock worth $155,060,000 after purchasing an additional 181,093 shares during the period. Janus Henderson Group PLC increased its position in Tiffany & Co. by 22.9% in the third quarter. Janus Henderson Group PLC now owns 1,490,254 shares of the specialty retailer’s stock worth $136,776,000 after purchasing an additional 277,753 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Tiffany & Co. by 73.7% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,476,404 shares of the specialty retailer’s stock worth $153,472,000 after purchasing an additional 626,533 shares during the period. 83.27% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on TIF. Citigroup raised shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $115.00 in a report on Thursday, December 14th. JPMorgan Chase assumed coverage on shares of Tiffany & Co. in a report on Monday, December 18th. They set a “neutral” rating and a $103.00 target price on the stock. Credit Suisse Group started coverage on shares of Tiffany & Co. in a research report on Monday, March 12th. They set an “outperform” rating and a $120.00 price target for the company. Wells Fargo set a $96.00 target price on shares of Tiffany & Co. and gave the company a “hold” rating in a research report on Thursday, January 11th. Finally, Oppenheimer restated a “buy” rating on shares of Tiffany & Co. in a research report on Wednesday, January 24th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $107.47.

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Tiffany & Co. Company Profile

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 timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.

Earnings History for Tiffany & Co. (NYSE:TIF)

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