Virtu Financial LLC trimmed its holdings in shares of Tiffany & Co. (NYSE:TIF) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,378 shares of the specialty retailer’s stock after selling 1,327 shares during the period. Virtu Financial LLC’s holdings in Tiffany & Co. were worth $694,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in Tiffany & Co. by 5.8% in the 3rd quarter. BlackRock Inc. now owns 8,900,821 shares of the specialty retailer’s stock worth $1,147,940,000 after acquiring an additional 484,549 shares during the period. OppenheimerFunds Inc. grew its stake in Tiffany & Co. by 0.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,624,691 shares of the specialty retailer’s stock worth $345,410,000 after acquiring an additional 10,591 shares during the period. FMR LLC grew its stake in Tiffany & Co. by 0.4% in the 2nd quarter. FMR LLC now owns 2,426,009 shares of the specialty retailer’s stock worth $319,263,000 after acquiring an additional 9,132 shares during the period. Millennium Management LLC grew its stake in Tiffany & Co. by 81.2% in the 2nd quarter. Millennium Management LLC now owns 1,955,023 shares of the specialty retailer’s stock worth $257,281,000 after acquiring an additional 876,176 shares during the period. Finally, Northern Trust Corp grew its stake in Tiffany & Co. by 1.7% in the 2nd quarter. Northern Trust Corp now owns 1,392,475 shares of the specialty retailer’s stock worth $183,249,000 after acquiring an additional 22,714 shares during the period. 79.60% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on TIF. Jefferies Financial Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Tiffany & Co. in a research note on Tuesday, August 28th. Zacks Investment Research cut shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Loop Capital set a $110.00 target price on shares of Tiffany & Co. and gave the stock a “buy” rating in a research note on Wednesday, November 28th. KeyCorp lifted their target price on shares of Tiffany & Co. from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 29th. Finally, ValuEngine cut shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $121.52.
In other Tiffany & Co. news, Director William A. Shutzer sold 250 shares of Tiffany & Co. stock in a transaction on Monday, September 17th. The shares were sold at an average price of $126.29, for a total value of $31,572.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lawrence K. Fish sold 8,898 shares of Tiffany & Co. stock in a transaction on Friday, September 14th. The shares were sold at an average price of $127.96, for a total transaction of $1,138,588.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,148 shares of company stock worth $2,839,461. 1.30% of the stock is owned by company insiders.
Shares of TIF opened at $88.52 on Friday. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.66 and a beta of 1.72. Tiffany & Co. has a fifty-two week low of $86.51 and a fifty-two week high of $141.64. The company has a current ratio of 5.86, a quick ratio of 1.84 and a debt-to-equity ratio of 0.29.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings results on Wednesday, November 28th. The specialty retailer reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.05 billion. Tiffany & Co. had a net margin of 9.96% and a return on equity of 18.71%. Tiffany & Co.’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $0.80 EPS. Sell-side analysts forecast that Tiffany & Co. will post 4.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Thursday, December 20th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.49%. Tiffany & Co.’s dividend payout ratio (DPR) is presently 53.27%.
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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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