Tiffany & Co. (NYSE:TIF) insider Gretchen Koback-Pursel sold 881 shares of Tiffany & Co. stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $133.66, for a total value of $117,754.46. Following the sale, the insider now directly owns 883 shares of the company’s stock, valued at approximately $118,021.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Tiffany & Co. opened at $133.61 on Wednesday, MarketBeat.com reports. Tiffany & Co. has a 1 year low of $86.15 and a 1 year high of $137.97. The stock has a market cap of $16.61 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 2.42 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 analysts’ consensus estimates of $0.83 by $0.31. Tiffany & Co. had a return on equity of 17.61% and a net margin of 9.75%. 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 previous year, the business earned $0.74 EPS. Tiffany & Co.’s revenue was up 14.9% compared to the same quarter last year. analysts expect that Tiffany & Co. will post 4.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Investors of record on Wednesday, June 20th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.65%. 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 payout ratio is currently 53.27%.
A number of large investors have recently made changes to their positions in TIF. The Manufacturers Life Insurance Company increased its holdings in Tiffany & Co. by 8.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 148,023 shares of the specialty retailer’s stock valued at $15,387,000 after purchasing an additional 11,980 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Tiffany & Co. by 4.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 17,597 shares of the specialty retailer’s stock valued at $1,829,000 after purchasing an additional 677 shares during the period. Bank of New York Mellon Corp increased its holdings in Tiffany & Co. by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,103,948 shares of the specialty retailer’s stock valued at $114,756,000 after purchasing an additional 23,790 shares during the period. UBS Asset Management Americas Inc. increased its holdings in Tiffany & Co. by 3.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 382,042 shares of the specialty retailer’s stock valued at $39,713,000 after purchasing an additional 12,277 shares during the period. Finally, Virtu Financial LLC purchased a new position in Tiffany & Co. during the 4th quarter valued at about $382,000. Institutional investors own 81.54% of the company’s stock.
Several equities research analysts have issued reports on TIF shares. Guggenheim reaffirmed a “buy” rating and set a $120.00 price target on shares of Tiffany & Co. in a research note on Friday, March 16th. Telsey Advisory Group lifted their price target on Tiffany & Co. from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, May 24th. Deutsche Bank dropped their price target on Tiffany & Co. from $94.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, May 24th. Morgan Stanley lifted their price target on Tiffany & Co. from $83.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, March 19th. Finally, Oppenheimer lifted their price objective on Tiffany & Co. to $145.00 and gave the stock an “outperform” rating in a report on Friday, June 1st. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $124.76.
About Tiffany & Co.
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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