Voya Investment Management LLC lowered its stake in shares of Tiffany & Co. (NYSE:TIF) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,607 shares of the specialty retailer’s stock after selling 1,993 shares during the quarter. Voya Investment Management LLC’s holdings in Tiffany & Co. were worth $5,502,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of TIF. UBS Asset Management Americas Inc. raised its position in shares of Tiffany & Co. by 12.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 325,010 shares of the specialty retailer’s stock valued at $30,973,000 after buying an additional 34,902 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Tiffany & Co. during the 1st quarter valued at $245,000. Pacer Advisors Inc. raised its position in shares of Tiffany & Co. by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 2,093 shares of the specialty retailer’s stock valued at $199,000 after buying an additional 66 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Tiffany & Co. by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 162,416 shares of the specialty retailer’s stock valued at $15,479,000 after buying an additional 2,289 shares in the last quarter. Finally, FMR LLC raised its position in shares of Tiffany & Co. by 0.7% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.
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TIF has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a “hold” rating on shares of Tiffany & Co. in a research report on Friday, July 7th. BidaskClub raised shares of Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Needham & Company LLC started coverage on shares of Tiffany & Co. in a research note on Tuesday, July 18th. They set a “hold” rating on the stock. Jefferies Group LLC set a $110.00 target price on shares of Tiffany & Co. and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, Zacks Investment Research raised shares of Tiffany & Co. from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, August 14th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $94.91.
Tiffany & Co. (NYSE:TIF) opened at 93.27 on Thursday. Tiffany & Co. has a 12 month low of $71.46 and a 12 month high of $97.29. The company’s 50 day moving average is $91.44 and its 200-day moving average is $91.93. The company has a market cap of $11.61 billion, a price-to-earnings ratio of 25.33 and a beta of 1.92.
Tiffany & Co. (NYSE:TIF) last announced its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. Tiffany & Co. had a net margin of 11.41% and a return on equity of 15.91%. The company had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $930.19 million. During the same quarter in the previous year, the company posted $0.84 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts expect that Tiffany & Co. will post $3.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Wednesday, September 20th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. Tiffany & Co.’s payout ratio is 54.35%.
In other news, Director Francesco Trapani purchased 35,000 shares of the stock in a transaction dated Monday, August 28th. The shares were purchased at an average price of $89.34 per share, with a total value of $3,126,900.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert S. Singer purchased 1,000 shares of the stock in a transaction dated Monday, September 25th. The shares were purchased at an average cost of $88.13 per share, for a total transaction of $88,130.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 267,064 shares of company stock worth $23,789,094. Corporate insiders own 1.40% of the company’s stock.
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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