Russell Investments Group Ltd. reduced its position in shares of Tiffany & Co. (NYSE:TIF) by 64.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,265 shares of the specialty retailer’s stock after selling 131,657 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Tiffany & Co. worth $9,504,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in TIF. Hall Laurie J Trustee purchased a new stake in shares of Tiffany & Co. during the 2nd quarter worth $197,000. Legacy Advisors LLC purchased a new stake in shares of Tiffany & Co. during the 2nd quarter worth $214,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Tiffany & Co. during the 2nd quarter worth $216,000. Visionary Asset Management Inc. purchased a new stake in shares of Tiffany & Co. during the 2nd quarter worth $218,000. Finally, Beese Fulmer Investment Management Inc. purchased a new stake in shares of Tiffany & Co. during the 2nd quarter worth $224,000. 78.51% of the stock is owned by institutional investors and hedge funds.
Shares of TIF opened at $123.37 on Friday. Tiffany & Co. has a 1-year low of $86.15 and a 1-year high of $141.64. The firm has a market capitalization of $15.01 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.24 and a beta of 1.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.05 and a quick ratio of 2.43.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings data on Tuesday, August 28th. The specialty retailer reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Tiffany & Co. had a net margin of 10.16% and a return on equity of 18.67%. Tiffany & Co.’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. sell-side analysts predict that Tiffany & Co. will post 4.8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, September 19th. This represents a $2.20 dividend on an annualized basis and a yield of 1.78%. Tiffany & Co.’s dividend payout ratio is presently 53.27%.
Several research firms have recently issued reports on TIF. Telsey Advisory Group lifted their price objective on shares of Tiffany & Co. from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 27th. Credit Suisse Group boosted their price target on shares of Tiffany & Co. from $120.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, May 24th. Goldman Sachs Group initiated coverage on shares of Tiffany & Co. in a research report on Monday, June 25th. They issued a “buy” rating and a $165.00 price target for the company. Royal Bank of Canada set a $126.00 price target on shares of Tiffany & Co. and gave the company a “hold” rating in a research report on Friday, May 25th. They noted that the move was a valuation call. Finally, Edward Jones cut shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Fourteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $131.00.
In other Tiffany & Co. news, EVP Philippe Galtie sold 673 shares of Tiffany & Co. stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $135.25, for a total value of $91,023.25. Following the transaction, the executive vice president now directly owns 2,866 shares in the company, valued at $387,626.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gretchen Koback-Pursel sold 881 shares of Tiffany & Co. stock in a transaction 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 $118,021.78. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
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.
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