Alps Advisors Inc. cut its position in Tiffany & Co. (NYSE:TIF) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,426 shares of the company’s stock after selling 224 shares during the period. Alps Advisors Inc.’s holdings in Tiffany & Co. were worth $390,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp acquired a new stake in Tiffany & Co. during the first quarter valued at approximately $1,152,000. Carnick & Kubik LLC acquired a new stake in Tiffany & Co. during the first quarter valued at approximately $249,000. Aviva PLC boosted its stake in Tiffany & Co. by 0.9% in the first quarter. Aviva PLC now owns 58,613 shares of the company’s stock valued at $4,301,000 after buying an additional 506 shares during the period. Cannell Peter B & Co Inc boosted its stake in Tiffany & Co. by 17.9% in the first quarter. Cannell Peter B & Co Inc now owns 53,315 shares of the company’s stock valued at $3,912,000 after buying an additional 8,110 shares during the period. Finally, LVW Advisors LLC boosted its stake in Tiffany & Co. by 17.0% in the first quarter. LVW Advisors LLC now owns 10,359 shares of the company’s stock valued at $760,000 after buying an additional 1,508 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tiffany & Co. (NYSE:TIF) traded up 0.71% during trading on Monday, hitting $73.87. The stock had a trading volume of 1,829,951 shares. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 21.07 and a beta of 2.07. 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 is $71.07 and its 200 day moving average is $67.07.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The company earned $932 million during the quarter, compared to analysts’ expectations of $931.37 million. Tiffany & Co. had a return on equity of 15.90% and a net margin of 11.26%. Tiffany & Co.’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, analysts expect that Tiffany & Co. will post $3.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Tuesday, September 20th will be issued a $0.45 dividend. The ex-dividend date is Friday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.44%. Tiffany & Co.’s payout ratio is 51.28%.
Several equities research analysts recently commented on TIF shares. Morgan Stanley reaffirmed a “hold” rating on shares of Tiffany & Co. in a research report on Monday, August 15th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $76.00 price objective (up from $65.00) on shares of Tiffany & Co. in a research report on Sunday, August 28th. Nomura set a $76.00 price objective on Tiffany & Co. and gave the company a “buy” rating in a research report on Monday, August 29th. Mizuho increased their price objective on Tiffany & Co. from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Finally, Credit Agricole SA started coverage on Tiffany & Co. in a research report on Wednesday, September 28th. They set an “outperform” rating and a $80.00 price objective on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $79.14.
In other Tiffany & Co. news, insider Jean-Marc Bellaiche sold 775 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $61.78, for a total transaction of $47,879.50. Following the completion of the transaction, the insider now owns 2,179 shares of the company’s stock, valued at $134,618.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Philippe Galtie sold 482 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $72.01, for a total value of $34,708.82. Following the transaction, the senior vice president now directly owns 670 shares of the company’s stock, valued at approximately $48,246.70. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate 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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