Teacher Retirement System of Texas raised its stake in shares of Tiffany & Co. (NYSE:TIF) by 31.0% during the second quarter, Holdings Channel reports. The firm owned 9,154 shares of the company’s stock after buying an additional 2,165 shares during the period. Teacher Retirement System of Texas’ holdings in Tiffany & Co. were worth $555,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of TIF. First Eagle Investment Management LLC increased its position in Tiffany & Co. by 261.2% in the second quarter. First Eagle Investment Management LLC now owns 3,876,154 shares of the company’s stock valued at $235,050,000 after buying an additional 2,803,126 shares during the period. Victory Capital Management Inc. increased its position in Tiffany & Co. by 80.2% in the second quarter. Victory Capital Management Inc. now owns 1,444,603 shares of the company’s stock valued at $87,600,000 after buying an additional 642,759 shares during the period. Emerald Acquisition Ltd. acquired a new position in Tiffany & Co. during the second quarter valued at $30,028,000. Renaissance Technologies LLC acquired a new position in Tiffany & Co. during the first quarter valued at $28,486,000. Finally, Cooke & Bieler LP acquired a new position in Tiffany & Co. during the second quarter valued at $20,072,000. Hedge funds and other institutional investors own 85.66% of the company’s stock.
Shares of Tiffany & Co. (NYSE:TIF) traded down 0.59% during trading on Monday, hitting $72.20. 194,137 shares of the stock traded hands. Tiffany & Co. has a 52 week low of $56.99 and a 52 week high of $84.19. The firm’s 50-day moving average price is $70.39 and its 200-day moving average price is $67.02. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 20.59 and a beta of 2.07.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings data on Thursday, August 25th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. Tiffany & Co. had a return on equity of 15.90% and a net margin of 11.26%. The company earned $932 million during the quarter, compared to analysts’ expectations of $931.37 million. During the same period in the prior year, the business earned $0.86 earnings per share. Tiffany & Co.’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that Tiffany & Co. will post $3.67 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Tuesday, September 20th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.48%. Tiffany & Co.’s dividend payout ratio is 51.28%.
TIF has been the subject of several recent research reports. Wells Fargo & Co. restated a “sell” rating and set a $58.00 target price on shares of Tiffany & Co. in a report on Monday, June 27th. Morgan Stanley reiterated a “hold” rating on shares of Tiffany & Co. in a report on Monday, August 15th. Mizuho lifted their price target on shares of Tiffany & Co. from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. RBC Capital Markets reiterated a “sector perform” rating and set a $76.00 price target (up from $65.00) on shares of Tiffany & Co. in a report on Sunday, August 28th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $73.00 price target on shares of Tiffany & Co. in a report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $79.14.
In other news, SVP Philippe Galtie sold 482 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $72.01, for a total value of $34,708.82. Following the completion of the sale, the senior vice president now directly owns 670 shares of the company’s stock, valued at $48,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jean-Marc Bellaiche sold 775 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $61.78, for a total value of $47,879.50. Following the completion of the sale, the insider now directly owns 2,179 shares of the company’s stock, valued at $134,618.62. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Tiffany & Co. Company Profile
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. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO. retail stores. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other.
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