Marshall Wace North America L.P. lowered its position in Tiffany & Co. (NYSE:TIF) by 46.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,753 shares of the specialty retailer’s stock after selling 129,890 shares during the period. Marshall Wace North America L.P. owned about 0.12% of Tiffany & Co. worth $19,056,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in TIF. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Tiffany & Co. in the third quarter valued at about $103,000. Qube Research & Technologies Ltd increased its holdings in Tiffany & Co. by 174.2% in the second quarter. Qube Research & Technologies Ltd now owns 998 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 634 shares in the last quarter. Columbia Asset Management purchased a new position in Tiffany & Co. in the third quarter valued at about $132,000. Impax Asset Management LLC purchased a new position in Tiffany & Co. in the second quarter valued at about $206,000. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in Tiffany & Co. by 266.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,629 shares of the specialty retailer’s stock valued at $214,000 after buying an additional 1,184 shares in the last quarter. Hedge funds and other institutional investors own 79.60% of the company’s stock.
In related news, Director William A. Shutzer sold 250 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $126.29, for a total transaction of $31,572.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence K. Fish sold 8,898 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was 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. Over the last three months, insiders have sold 22,148 shares of company stock valued at $2,839,461. Corporate insiders own 1.30% of the company’s stock.
A number of brokerages have issued reports on TIF. KeyCorp increased their target price on shares of Tiffany & Co. from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, August 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Tiffany & Co. in a report on Tuesday, August 28th. UBS Group raised shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 12th. CIBC raised shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 12th. Finally, Oppenheimer raised shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $152.00 to $145.00 in a report on Wednesday, September 12th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Tiffany & Co. currently has a consensus rating of “Buy” and a consensus price target of $121.52.
Shares of TIF opened at $86.02 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.86 and a quick ratio of 1.84. Tiffany & Co. has a 1-year low of $85.98 and a 1-year high of $141.64. The company has a market cap of $10.79 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.72.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, November 28th. The specialty retailer reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. Tiffany & Co. had a net margin of 9.96% and a return on equity of 18.71%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the company posted $0.80 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that Tiffany & Co. will post 4.8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Thursday, December 20th will be paid a dividend of $0.55 per share. The ex-dividend date is Wednesday, December 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.56%. Tiffany & Co.’s dividend payout ratio (DPR) is 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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