Caisse DE Depot ET Placement DU Quebec trimmed its position in shares of Tiffany & Co. (NYSE:TIF) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,100 shares of the specialty retailer’s stock after selling 1,200 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Tiffany & Co. were worth $498,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Mission Wealth Management LP acquired a new position in Tiffany & Co. during the first quarter worth about $205,000. Albion Financial Group UT acquired a new position in Tiffany & Co. during the fourth quarter worth about $212,000. Signaturefd LLC acquired a new position in Tiffany & Co. during the fourth quarter worth about $218,000. Wetherby Asset Management Inc. acquired a new position in Tiffany & Co. during the fourth quarter worth about $227,000. Finally, IBM Retirement Fund acquired a new position in Tiffany & Co. during the first quarter worth about $231,000. Institutional investors and hedge funds own 81.42% of the company’s stock.
Shares of Tiffany & Co. opened at $136.27 on Friday, according to MarketBeat. Tiffany & Co. has a 12-month low of $86.15 and a 12-month high of $137.97. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 2.46 and a beta of 1.82. The company has a current ratio of 5.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.27.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings results on Wednesday, May 23rd. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.31. Tiffany & Co. had a net margin of 9.75% and a return on equity of 17.61%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $959.20 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. equities analysts predict that Tiffany & Co. will post 4.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Wednesday, June 20th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, June 19th. This is an increase from Tiffany & Co.’s previous quarterly dividend of $0.50. Tiffany & Co.’s dividend payout ratio is 48.43%.
Several research analysts have weighed in on TIF shares. Guggenheim restated a “buy” rating and set a $120.00 target price on shares of Tiffany & Co. in a research report on Friday, March 16th. Telsey Advisory Group upped their target price on shares of Tiffany & Co. from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, May 24th. Deutsche Bank lowered their target price on shares of Tiffany & Co. from $94.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, May 24th. Morgan Stanley upped their target price on shares of Tiffany & Co. from $83.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, March 19th. Finally, Oppenheimer upped their target price on shares of Tiffany & Co. to $145.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Ten research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Tiffany & Co. currently has a consensus rating of “Buy” and an average price target of $120.55.
In other news, Chairman Roger N. Farah acquired 10,000 shares of Tiffany & Co. stock in a transaction that occurred on Tuesday, March 27th. The shares were acquired at an average price of $97.66 per share, with a total value of $976,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Abby F. Kohnstamm sold 8,577 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $132.16, for a total transaction of $1,133,536.32. The disclosure for this sale can be found here. In the last three months, insiders have purchased 75,000 shares of company stock worth $7,238,850 and have sold 73,657 shares worth $9,549,170. Corporate insiders own 1.30% of the company’s stock.
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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