Legal & General Group Plc Increases Holdings in Tiffany & Co. (TIF)

Legal & General Group Plc boosted its stake in Tiffany & Co. (NYSE:TIF) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 617,331 shares of the specialty retailer’s stock after acquiring an additional 15,959 shares during the period. Legal & General Group Plc owned 0.50% of Tiffany & Co. worth $56,658,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. QS Investors LLC increased its stake in shares of Tiffany & Co. by 8.2% in the second quarter. QS Investors LLC now owns 1,363 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 103 shares in the last quarter. Welch Group LLC increased its stake in shares of Tiffany & Co. by 0.5% in the second quarter. Welch Group LLC now owns 1,549 shares of the specialty retailer’s stock worth $145,000 after purchasing an additional 8 shares in the last quarter. Wetherby Asset Management Inc. purchased a new position in shares of Tiffany & Co. in the second quarter worth about $201,000. Commerce Bank purchased a new position in shares of Tiffany & Co. in the second quarter worth about $209,000. Finally, Pacer Advisors Inc. increased its stake in shares of Tiffany & Co. by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,267 shares of the specialty retailer’s stock worth $213,000 after purchasing an additional 174 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of Tiffany & Co. (NYSE:TIF) traded down $0.52 during trading hours on Wednesday, reaching $95.02. 870,100 shares of the company traded hands, compared to its average volume of 1,675,360. The stock has a market capitalization of $11,873.46, a PE ratio of 24.43, a P/E/G ratio of 2.22 and a beta of 1.93. Tiffany & Co. has a 12 month low of $76.08 and a 12 month high of $98.64. The company has a current ratio of 5.44, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28.

Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, November 29th. The specialty retailer reported $0.80 EPS for the quarter, beating the 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 company had revenue of $976.20 million during the quarter, compared to analysts’ expectations of $957.18 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. Tiffany & Co.’s revenue for the quarter was up 2.8% on a year-over-year basis. equities analysts anticipate that Tiffany & Co. will post 3.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 20th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.10%. Tiffany & Co.’s dividend payout ratio is presently 53.76%.

In other Tiffany & Co. news, major shareholder Qatar Investment Authority sold 4,400,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $94.16, for a total value of $414,304,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Francesco Trapani purchased 25,000 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was bought at an average cost of $89.34 per share, with a total value of $2,233,500.00. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Several equities analysts have recently weighed in on the stock. BidaskClub downgraded shares of Tiffany & Co. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Royal Bank Of Canada set a $94.00 target price on shares of Tiffany & Co. and gave the stock a “hold” rating in a research note on Thursday, November 30th. KeyCorp raised shares of Tiffany & Co. from a “sector weight” rating to an “overweight” rating and boosted their price objective for the company from $94.50 to $115.00 in a research note on Friday, December 1st. Zacks Investment Research cut shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Jefferies Group set a $110.00 price objective on shares of Tiffany & Co. and gave the company a “buy” rating in a research note on Wednesday, August 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Tiffany & Co. has an average rating of “Hold” and a consensus target price of $98.69.

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About Tiffany & Co.

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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Institutional Ownership by Quarter for Tiffany & Co. (NYSE:TIF)

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