The Manufacturers Life Insurance Company raised its position in shares of Tiffany & Co. (NYSE:TIF) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,023 shares of the specialty retailer’s stock after acquiring an additional 11,980 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Tiffany & Co. were worth $15,387,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of TIF. Calton & Associates Inc. bought a new position in Tiffany & Co. during the fourth quarter valued at $118,000. Denali Advisors LLC bought a new position in Tiffany & Co. during the fourth quarter valued at $125,000. Sawyer & Company Inc bought a new position in Tiffany & Co. during the fourth quarter valued at $130,000. Harel Insurance Investments & Financial Services Ltd. increased its position in Tiffany & Co. by 103.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,373 shares of the specialty retailer’s stock valued at $143,000 after acquiring an additional 697 shares during the last quarter. Finally, Osborne Partners Capital Management LLC bought a new position in Tiffany & Co. during the fourth quarter valued at $208,000. Institutional investors and hedge funds own 81.34% of the company’s stock.
In related news, Director Abby F. Kohnstamm sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $108.73, for a total value of $1,087,300.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Philippe Galtie sold 24,758 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $109.79, for a total transaction of $2,718,180.82. Following the completion of the transaction, the senior vice president now owns 10,813 shares in the company, valued at approximately $1,187,159.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,217 shares of company stock worth $10,076,469. Corporate insiders own 1.30% of the company’s stock.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings data on Wednesday, November 29th. The specialty retailer reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.04. Tiffany & Co. had a net margin of 11.46% and a return on equity of 15.77%. The firm had revenue of $976.20 million for the quarter, compared to the consensus estimate of $957.18 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. sell-side analysts forecast that Tiffany & Co. will post 4.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Tuesday, March 20th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.93%. Tiffany & Co.’s dividend payout ratio (DPR) is currently 53.76%.
A number of research analysts have weighed in on the stock. Oppenheimer reiterated a “buy” rating on shares of Tiffany & Co. in a research report on Wednesday, January 24th. Zacks Investment Research cut shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Wells Fargo & Co reiterated a “hold” rating on shares of Tiffany & Co. in a research report on Wednesday, January 17th. SBG Securities cut shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Cowen set a $102.00 price objective on shares of Tiffany & Co. and gave the company a “buy” rating in a research report on Thursday, November 30th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Tiffany & Co. currently has a consensus rating of “Buy” and an average price target of $102.00.
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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. 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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