BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Tiffany & Co. (NYSE:TIF) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,642 shares of the specialty retailer’s stock after acquiring an additional 1,989 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.05% of Tiffany & Co. worth $6,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TIF. Mission Wealth Management LP purchased a new stake in Tiffany & Co. in the first quarter valued at $205,000. Albion Financial Group UT purchased a new stake in Tiffany & Co. in the fourth quarter valued at $212,000. Signaturefd LLC purchased a new stake in Tiffany & Co. in the fourth quarter valued at $218,000. Wetherby Asset Management Inc. purchased a new stake in Tiffany & Co. in the fourth quarter valued at $227,000. Finally, IBM Retirement Fund purchased a new stake in Tiffany & Co. in the first quarter valued at $231,000. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on TIF shares. Loop Capital raised shares of Tiffany & Co. from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Thursday, April 5th. Credit Suisse Group started coverage on shares of Tiffany & Co. in a report on Monday, March 12th. They issued an “outperform” rating and a $120.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Tiffany & Co. in a report on Thursday, April 5th. Cowen upped their price target on shares of Tiffany & Co. from $110.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 23rd. Finally, Morgan Stanley upped their price target on shares of Tiffany & Co. from $83.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, March 19th. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Tiffany & Co. currently has a consensus rating of “Buy” and an average target price of $120.55.
In related news, SVP Andrea Davey sold 1,129 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $129.56, for a total value of $146,273.24. Following the transaction, the senior vice president now directly owns 2,900 shares of the company’s stock, valued at approximately $375,724. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Francesco Trapani purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The stock was bought at an average cost of $98.40 per share, for a total transaction of $492,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 75,000 shares of company stock worth $7,238,850 and sold 73,657 shares worth $9,549,170. Company insiders own 1.30% of the company’s stock.
TIF stock opened at $136.27 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.43 and a current ratio of 5.82. Tiffany & Co. has a 52-week low of $86.15 and a 52-week high of $137.97. The stock has a market cap of $16.93 billion, a PE ratio of 33.00, a PEG ratio of 2.46 and a beta of 1.82.
Tiffany & Co. (NYSE:TIF) last posted its earnings results on Wednesday, May 23rd. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.31. Tiffany & Co. had a net margin of 9.75% and a return on equity of 17.61%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $959.20 million. During the same period in the prior year, the company posted $0.74 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. sell-side analysts forecast that Tiffany & Co. will post 4.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Investors of record on Wednesday, June 20th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, June 19th. This is a positive change from Tiffany & Co.’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a yield of 1.61%. Tiffany & Co.’s dividend payout ratio (DPR) is currently 48.43%.
Tiffany & Co. Company 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.
Want to see what other hedge funds are holding TIF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tiffany & Co. (NYSE:TIF).
Receive News & Ratings for Tiffany & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tiffany & Co. and related companies with MarketBeat.com's FREE daily email newsletter.