Gateway Investment Advisers LLC reduced its position in shares of Tiffany & Co. (NYSE:TIF) by 12.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,794 shares of the specialty retailer’s stock after selling 15,918 shares during the period. Gateway Investment Advisers LLC’s holdings in Tiffany & Co. were worth $14,031,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Andra AP fonden grew its stake in shares of Tiffany & Co. by 17.8% in the third quarter. Andra AP fonden now owns 70,800 shares of the specialty retailer’s stock worth $9,131,000 after purchasing an additional 10,700 shares in the last quarter. Personal Capital Advisors Corp grew its stake in shares of Tiffany & Co. by 46.4% in the third quarter. Personal Capital Advisors Corp now owns 5,432 shares of the specialty retailer’s stock worth $701,000 after purchasing an additional 1,721 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Tiffany & Co. by 11.7% in the third quarter. State of Alaska Department of Revenue now owns 40,781 shares of the specialty retailer’s stock worth $5,257,000 after purchasing an additional 4,278 shares in the last quarter. Royal London Asset Management Ltd. bought a new position in shares of Tiffany & Co. in the second quarter worth $5,851,000. Finally, Northern Trust Corp grew its stake in shares of Tiffany & Co. by 1.7% in the second quarter. Northern Trust Corp now owns 1,392,475 shares of the specialty retailer’s stock worth $183,249,000 after purchasing an additional 22,714 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of TIF stock opened at $112.00 on Thursday. Tiffany & Co. has a fifty-two week low of $90.46 and a fifty-two week high of $141.64. The stock has a market cap of $15.79 billion, a P/E ratio of 27.12, a PEG ratio of 2.35 and a beta of 1.75. The company has a quick ratio of 2.09, a current ratio of 6.05 and a debt-to-equity ratio of 0.29.
Tiffany & Co. (NYSE:TIF) last announced its earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.16. Tiffany & Co. had a return on equity of 18.67% and a net margin of 10.16%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $0.92 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Tiffany & Co. will post 4.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Thursday, September 20th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Wednesday, September 19th. This represents a $2.20 annualized dividend and a yield of 1.96%. Tiffany & Co.’s dividend payout ratio is currently 53.27%.
In related news, Director Lawrence K. Fish sold 8,898 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $127.96, for a total value of $1,138,588.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Francesco Trapani purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was bought at an average price of $122.96 per share, with a total value of $1,844,400.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 60,000 shares of company stock valued at $7,435,050 and have sold 22,148 shares valued at $2,839,461. Company insiders own 1.30% of the company’s stock.
Several research firms have recently issued reports on TIF. Zacks Investment Research cut Tiffany & Co. from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. CIBC raised Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 12th. Oppenheimer raised Tiffany & Co. from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $152.00 to $145.00 in a research note on Wednesday, September 12th. UBS Group raised Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 12th. Finally, Credit Suisse Group increased their price target on Tiffany & Co. from $142.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $131.75.
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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