Tiffany & Co. (TIF) Position Lessened by Norinchukin Bank The
Norinchukin Bank The decreased its position in shares of Tiffany & Co. (NYSE:TIF) by 4.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 145,619 shares of the specialty retailer’s stock after selling 7,015 shares during the period. Norinchukin Bank The owned 0.12% of Tiffany & Co. worth $13,669,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Tiffany & Co. by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,918,876 shares of the specialty retailer’s stock valued at $1,135,869,000 after buying an additional 177,418 shares during the period. BlackRock Inc. lifted its stake in shares of Tiffany & Co. by 2,886.2% during the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock valued at $665,271,000 after buying an additional 6,747,028 shares during the period. State Street Corp lifted its stake in shares of Tiffany & Co. by 0.3% during the first quarter. State Street Corp now owns 4,884,771 shares of the specialty retailer’s stock valued at $465,549,000 after buying an additional 12,498 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Tiffany & Co. by 2.7% during the second quarter. First Eagle Investment Management LLC now owns 4,140,990 shares of the specialty retailer’s stock valued at $388,715,000 after buying an additional 109,926 shares during the period. Finally, FMR LLC lifted its stake in shares of Tiffany & Co. by 0.7% during the first quarter. FMR LLC now owns 2,463,909 shares of the specialty retailer’s stock valued at $234,810,000 after buying an additional 17,572 shares during the period. 79.76% of the stock is currently owned by institutional investors and hedge funds.
Tiffany & Co. (TIF) traded up 0.18% during midday trading on Wednesday, hitting $96.65. 810,213 shares of the stock traded hands. Tiffany & Co. has a 1-year low of $67.52 and a 1-year high of $97.29. The firm has a market cap of $12.03 billion, a P/E ratio of 26.25 and a beta of 1.91. The company has a 50-day moving average price of $91.47 and a 200-day moving average price of $91.85.
Tiffany & Co. (NYSE:TIF) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.06. The firm had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $930.19 million. Tiffany & Co. had a net margin of 11.41% and a return on equity of 15.91%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. Analysts predict that Tiffany & Co. will post $3.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Wednesday, September 20th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, September 19th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 54.35%.
In other news, Director Francesco Trapani acquired 25,000 shares of Tiffany & Co. stock in a transaction dated Friday, September 1st. The stock was acquired at an average cost of $91.84 per share, for a total transaction of $2,296,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela H. Cloud sold 37,000 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $93.52, for a total transaction of $3,460,240.00. Following the completion of the sale, the insider now owns 47,261 shares of the company’s stock, valued at $4,419,848.72. The disclosure for this sale can be found here. Insiders acquired 241,064 shares of company stock valued at $21,467,464 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
Several brokerages recently issued reports on TIF. Royal Bank Of Canada reissued a “hold” rating on shares of Tiffany & Co. in a research note on Friday, July 7th. Bank of America Corporation reissued a “buy” rating and set a $110.00 price objective on shares of Tiffany & Co. in a research note on Wednesday, June 28th. Cowen and Company reissued an “outperform” rating and set a $107.00 price objective on shares of Tiffany & Co. in a research note on Tuesday, May 23rd. BidaskClub raised shares of Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Tiffany & Co. in a research note on Friday, September 8th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Tiffany & Co. presently has a consensus rating of “Buy” and a consensus target price of $92.81.
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About Tiffany & Co.
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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