Pictet Asset Management Ltd. trimmed its holdings in shares of Tiffany & Co. (NYSE:TIF) by 61.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 215,539 shares of the specialty retailer’s stock after selling 348,784 shares during the period. Pictet Asset Management Ltd. owned approximately 0.17% of Tiffany & Co. worth $19,782,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Tiffany & Co. by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,229,111 shares of the specialty retailer’s stock valued at $1,147,947,000 after purchasing an additional 310,235 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Tiffany & Co. by 2.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 4,140,990 shares of the specialty retailer’s stock valued at $388,715,000 after purchasing an additional 109,926 shares during the last quarter. Investec Asset Management LTD boosted its stake in Tiffany & Co. by 2.2% during the 2nd quarter. Investec Asset Management LTD now owns 2,098,510 shares of the specialty retailer’s stock valued at $196,987,000 after purchasing an additional 44,516 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Tiffany & Co. by 21.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,835,834 shares of the specialty retailer’s stock valued at $172,329,000 after purchasing an additional 318,238 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Tiffany & Co. by 9,785.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,212,501 shares of the specialty retailer’s stock valued at $113,818,000 after purchasing an additional 1,200,235 shares during the last quarter. Institutional investors and hedge funds own 79.64% of the company’s stock.
In other Tiffany & Co. news, Director Robert S. Singer purchased 1,000 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were acquired at an average cost of $88.13 per share, with a total value of $88,130.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $94.16, for a total value of $414,304,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 267,064 shares of company stock worth $23,789,094. Insiders own 1.40% of the company’s stock.
Shares of Tiffany & Co. (TIF) opened at $92.56 on Friday. The company has a current ratio of 5.75, a quick ratio of 2.29 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $11,524.83, a PE ratio of 23.92, a price-to-earnings-growth ratio of 2.15 and a beta of 1.96. Tiffany & Co. has a twelve month low of $72.09 and a twelve month high of $97.29.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.06. The business had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $930.19 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. equities research analysts predict that Tiffany & Co. will post 3.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Wednesday, September 20th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.16%. Tiffany & Co.’s dividend payout ratio is presently 54.35%.
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Several brokerages have commented on TIF. BidaskClub upgraded Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Needham & Company LLC began coverage on 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 Tiffany & Co. and gave the company a “buy” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Tiffany & Co. from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) downgraded Tiffany & Co. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $106.00 to $94.00 in a research note on Friday, September 22nd. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $94.91.
Tiffany & Co. 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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