Xact Kapitalforvaltning AB reduced its holdings in shares of Tiffany & Co. (NYSE:TIF) by 12.2% in the third quarter, HoldingsChannel.com reports. The fund owned 16,656 shares of the specialty retailer’s stock after selling 2,318 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Tiffany & Co. were worth $2,148,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Chevy Chase Trust Holdings Inc. grew its holdings in Tiffany & Co. by 41.8% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 297,995 shares of the specialty retailer’s stock worth $38,433,000 after acquiring an additional 87,859 shares during the period. BTIM Corp. grew its stake in shares of Tiffany & Co. by 3.2% in the 3rd quarter. BTIM Corp. now owns 64,180 shares of the specialty retailer’s stock valued at $8,278,000 after buying an additional 1,995 shares during the period. Leavell Investment Management Inc. grew its stake in shares of Tiffany & Co. by 6.2% in the 3rd quarter. Leavell Investment Management Inc. now owns 8,577 shares of the specialty retailer’s stock valued at $1,111,000 after buying an additional 500 shares during the period. IFM Investors Pty Ltd grew its stake in shares of Tiffany & Co. by 14.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 6,194 shares of the specialty retailer’s stock valued at $799,000 after buying an additional 778 shares during the period. Finally, LGT Capital Partners LTD. grew its stake in shares of Tiffany & Co. by 5.0% in the 3rd quarter. LGT Capital Partners LTD. now owns 163,114 shares of the specialty retailer’s stock valued at $21,037,000 after buying an additional 7,770 shares during the period. Hedge funds and other institutional investors own 79.18% of the company’s stock.
In other Tiffany & Co. news, Director Lawrence K. Fish sold 7,000 shares of Tiffany & Co. stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $129.40, for a total transaction of $905,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Francesco Trapani bought 15,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were purchased at an average cost of $122.96 per share, for a total transaction of $1,844,400.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 60,000 shares of company stock worth $7,435,050 and have sold 22,148 shares worth $2,839,461. 1.30% of the stock is owned by company insiders.
Shares of NYSE TIF opened at $115.33 on Friday. 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 capitalization of $13.42 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 2.00 and a beta of 1.75. The company has a current ratio of 6.05, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.
Tiffany & Co. (NYSE:TIF) last announced its quarterly 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 net margin of 10.16% and a return on equity of 18.67%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, sell-side analysts expect that Tiffany & Co. will post 4.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, September 19th. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. Tiffany & Co.’s dividend payout ratio is currently 53.27%.
Several analysts have recently commented on the company. KeyCorp raised their target price on Tiffany & Co. from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, August 29th. Jefferies Financial Group restated a “buy” rating and issued a $160.00 target price on shares of Tiffany & Co. in a research note on Tuesday, August 28th. UBS Group upgraded Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 12th. CIBC upgraded Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 12th. Finally, Oppenheimer raised shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $152.00 to $145.00 in a research report on Wednesday, September 12th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $131.75.
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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