Clearbridge Investments LLC raised its holdings in shares of Tiffany & Co. (NYSE:TIF) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,980 shares of the specialty retailer’s stock after acquiring an additional 600 shares during the quarter. Clearbridge Investments LLC owned about 0.11% of Tiffany & Co. worth $14,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of TIF. Calton & Associates Inc. purchased a new position in Tiffany & Co. in the fourth quarter worth $118,000. Denali Advisors LLC purchased a new stake in Tiffany & Co. during the fourth quarter valued at about $125,000. Sawyer & Company Inc purchased a new stake in Tiffany & Co. during the fourth quarter valued at about $130,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Tiffany & Co. by 103.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,373 shares of the specialty retailer’s stock valued at $143,000 after buying an additional 697 shares during the period. Finally, Osborne Partners Capital Management LLC purchased a new stake in Tiffany & Co. during the fourth quarter valued at about $208,000. 83.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of TIF stock traded down $2.54 during trading hours on Friday, hitting $95.58. The company’s stock had a trading volume of 2,686,836 shares, compared to its average volume of 2,425,521. The company has a market capitalization of $11,878.40, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.77. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.50 and a quick ratio of 2.39. Tiffany & Co. has a 12-month low of $84.15 and a 12-month high of $111.44.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings results on Friday, March 16th. The specialty retailer reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.04. The firm 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 firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 earnings per share. sell-side analysts forecast that Tiffany & Co. will post 4.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Tuesday, March 20th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, March 19th. Tiffany & Co.’s payout ratio is 48.43%.
In related news, Director Charles K. Marquis sold 4,717 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $107.84, for a total transaction of $508,681.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francesco Trapani acquired 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were purchased at an average price of $94.66 per share, with a total value of $3,313,100.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 77,000 shares of company stock valued at $7,437,830 and sold 139,636 shares valued at $14,979,843. 1.40% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on TIF shares. Royal Bank of Canada increased their target price on shares of Tiffany & Co. to $108.00 and gave the stock a “sector perform” rating in a report on Thursday, January 18th. They noted that the move was a valuation call. Wells Fargo set a $96.00 price target on shares of Tiffany & Co. and gave the company a “hold” rating in a research report on Thursday, January 11th. JPMorgan Chase started coverage on shares of Tiffany & Co. in a research report on Monday, December 18th. They set a “neutral” rating and a $103.00 price target for the company. Citigroup upgraded shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $92.00 to $115.00 in a report on Thursday, December 14th. Finally, Guggenheim restated a “buy” rating on shares of Tiffany & Co. in a report on Thursday. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average 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.
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