Front Barnett Associates LLC Has $12.48 Million Holdings in Tiffany & Co. (TIF)

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Front Barnett Associates LLC reduced its position in shares of Tiffany & Co. (NYSE:TIF) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,863 shares of the specialty retailer’s stock after selling 5,602 shares during the period. Tiffany & Co. accounts for about 2.1% of Front Barnett Associates LLC’s investment portfolio, making the stock its 18th largest position. Front Barnett Associates LLC’s holdings in Tiffany & Co. were worth $12,484,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Townsend & Associates Inc boosted its stake in shares of Tiffany & Co. by 6.0% during the 2nd quarter. Townsend & Associates Inc now owns 7,056 shares of the specialty retailer’s stock worth $929,000 after purchasing an additional 400 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Tiffany & Co. by 2.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 22,389 shares of the specialty retailer’s stock worth $2,946,000 after purchasing an additional 498 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Tiffany & Co. by 1.4% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 38,290 shares of the specialty retailer’s stock worth $3,739,000 after purchasing an additional 515 shares during the last quarter. Comerica Bank boosted its stake in shares of Tiffany & Co. by 2.3% during the 2nd quarter. Comerica Bank now owns 25,354 shares of the specialty retailer’s stock worth $3,405,000 after purchasing an additional 563 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its stake in shares of Tiffany & Co. by 7.1% during the 2nd quarter. Oakbrook Investments LLC now owns 8,620 shares of the specialty retailer’s stock worth $1,134,000 after purchasing an additional 570 shares during the last quarter. 81.33% of the stock is currently owned by institutional investors.

In related news, insider Leigh M. Harlan sold 4,046 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $129.01, for a total value of $521,974.46. Following the transaction, the insider now owns 9,916 shares in the company, valued at $1,279,263.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gretchen Koback-Pursel sold 881 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $133.66, for a total transaction of $117,754.46. Following the completion of the transaction, the insider now owns 883 shares in the company, valued at approximately $118,021.78. The disclosure for this sale can be found here. Insiders sold 71,407 shares of company stock worth $9,389,318 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Shares of TIF stock opened at $128.56 on Monday. The stock has a market cap of $16.69 billion, a PE ratio of 31.13, a P/E/G ratio of 2.43 and a beta of 1.79. Tiffany & Co. has a 1-year low of $86.15 and a 1-year high of $141.64. 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. (NYSE:TIF) last announced its quarterly earnings data on Wednesday, May 23rd. The specialty retailer reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm posted $0.74 EPS. The company’s revenue was up 14.9% on a year-over-year basis. analysts forecast that Tiffany & Co. will post 4.69 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Thursday, September 20th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.71%. Tiffany & Co.’s payout ratio is 53.27%.

Several equities research analysts have issued reports on TIF shares. Cowen raised their price target on shares of Tiffany & Co. from $110.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 23rd. Deutsche Bank cut their price objective on shares of Tiffany & Co. from $94.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, May 24th. Citigroup increased their price objective on shares of Tiffany & Co. to $150.00 and gave the stock a “buy” rating in a report on Thursday, May 24th. ValuEngine upgraded shares of Tiffany & Co. from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. Finally, Loop Capital increased their price objective on shares of Tiffany & Co. from $113.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, May 23rd. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Tiffany & Co. presently has a consensus rating of “Buy” and a consensus price target of $127.68.

About Tiffany & Co.

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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