Westpac Banking Corp Cuts Holdings in Tiffany & Co. (TIF)

Westpac Banking Corp cut its stake in Tiffany & Co. (NYSE:TIF) by 66.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,532 shares of the specialty retailer’s stock after selling 19,134 shares during the quarter. Westpac Banking Corp’s holdings in Tiffany & Co. were worth $1,229,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TIF. Marshall Wace LLP increased its position in shares of Tiffany & Co. by 4,305.5% during the second quarter. Marshall Wace LLP now owns 345,262 shares of the specialty retailer’s stock worth $45,436,000 after acquiring an additional 337,425 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of Tiffany & Co. during the second quarter worth about $16,904,000. Intact Investment Management Inc. purchased a new stake in shares of Tiffany & Co. during the third quarter worth about $245,000. Nomura Asset Management Co. Ltd. increased its position in shares of Tiffany & Co. by 18.2% during the second quarter. Nomura Asset Management Co. Ltd. now owns 59,208 shares of the specialty retailer’s stock worth $7,792,000 after acquiring an additional 9,118 shares during the last quarter. Finally, Sentry Investment Management LLC increased its position in shares of Tiffany & Co. by 13.7% during the third quarter. Sentry Investment Management LLC now owns 38,542 shares of the specialty retailer’s stock worth $4,971,000 after acquiring an additional 4,639 shares during the last quarter. 79.60% of the stock is currently owned by institutional investors.

Shares of Tiffany & Co. stock opened at $94.65 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.86 and a quick ratio of 1.84. The stock has a market capitalization of $11.09 billion, a P/E ratio of 22.92, a PEG ratio of 1.67 and a beta of 1.73. Tiffany & Co. has a fifty-two week low of $89.03 and a fifty-two week high of $141.64.

Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Wednesday, November 28th. The specialty retailer reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Tiffany & Co. had a return on equity of 18.71% and a net margin of 9.96%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.80 earnings per share. Tiffany & Co.’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Tiffany & Co. will post 4.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Thursday, December 20th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $2.20 dividend on an annualized basis and a yield of 2.32%. Tiffany & Co.’s payout ratio is currently 53.27%.

In other Tiffany & Co. news, Director Lawrence K. Fish sold 7,000 shares of Tiffany & Co. stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $129.40, for a total value of $905,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francesco Trapani bought 15,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was bought at an average price of $122.96 per share, with a total value of $1,844,400.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 22,148 shares of company stock valued at $2,839,461. 1.30% of the stock is currently owned by insiders.

A number of analysts have recently issued reports on the company. Oppenheimer lowered Tiffany & Co. from an “outperform” rating to a “market perform” rating and set a $145.00 target price on the stock. in a research report on Friday, August 10th. Zacks Investment Research lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $160.00 target price on shares of Tiffany & Co. in a research report on Tuesday, August 28th. Bank of America lowered Tiffany & Co. from a “buy” rating to a “neutral” rating and set a $140.00 target price on the stock. in a research report on Wednesday, August 22nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada lifted their target price on Tiffany & Co. to $132.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 29th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $121.10.

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Tiffany & Co. Profile

Tiffany & Co, through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.

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

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