Front Barnett Associates LLC lowered its stake in shares of Tiffany & Co. (NYSE:TIF) by 1.7% during the first quarter, HoldingsChannel.com reports. The fund owned 100,465 shares of the specialty retailer’s stock after selling 1,730 shares during the period. Tiffany & Co. comprises 1.6% of Front Barnett Associates LLC’s investment portfolio, making the stock its 24th largest position. Front Barnett Associates LLC’s holdings in Tiffany & Co. were worth $9,811,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Westpac Banking Corp increased its position in shares of Tiffany & Co. by 31.1% during the fourth quarter. Westpac Banking Corp now owns 37,666 shares of the specialty retailer’s stock worth $3,915,000 after acquiring an additional 8,940 shares during the period. D L Carlson Investment Group Inc. purchased a new stake in shares of Tiffany & Co. during the fourth quarter worth $3,191,000. Bedell Frazier Investment Counseling LLC purchased a new stake in shares of Tiffany & Co. during the fourth quarter worth $8,409,000. Unio Capital LLC purchased a new stake in shares of Tiffany & Co. during the fourth quarter worth $515,000. Finally, PGGM Investments increased its position in shares of Tiffany & Co. by 259.0% during the fourth quarter. PGGM Investments now owns 179,300 shares of the specialty retailer’s stock worth $18,638,000 after acquiring an additional 129,357 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on the company. Oppenheimer increased their target price on Tiffany & Co. from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Loop Capital raised Tiffany & Co. from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Thursday, April 5th. Royal Bank of Canada increased their target price on Tiffany & Co. to $108.00 and gave the company a “sector perform” rating in a report on Thursday, January 18th. They noted that the move was a valuation call. Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Tiffany & Co. in a report on Monday, March 19th. Finally, Credit Suisse Group assumed coverage on Tiffany & Co. in a report on Monday, March 12th. They issued an “outperform” rating and a $120.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $108.06.
In other Tiffany & Co. news, insider Andrew W. Hart sold 776 shares of the firm’s stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $96.46, for a total transaction of $74,852.96. Following the transaction, the insider now owns 9,695 shares of the company’s stock, valued at $935,179.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Roger N. Farah acquired 10,000 shares of the company’s stock in a transaction on Tuesday, March 27th. The shares were purchased at an average cost of $97.66 per share, for a total transaction of $976,600.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 75,000 shares of company stock worth $7,238,850 and have sold 47,419 shares worth $4,903,374. Company insiders own 1.30% of the company’s stock.
Shares of Tiffany & Co. opened at $103.75 on Friday, Marketbeat Ratings reports. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.11 and a beta of 1.75. Tiffany & Co. has a 1 year low of $84.15 and a 1 year high of $111.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.39 and a current ratio of 5.50.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Friday, March 16th. The specialty retailer reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.04. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. Tiffany & Co. had a return on equity of 16.32% and a net margin of 8.87%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.45 earnings per share. analysts predict that Tiffany & Co. will post 4.37 earnings per share for the current year.
Tiffany & Co. 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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