Oakbrook Investments LLC lifted its position in shares of Tiffany & Co. (NYSE:TIF) by 47.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,720 shares of the specialty retailer’s stock after buying an additional 4,100 shares during the period. Oakbrook Investments LLC’s holdings in Tiffany & Co. were worth $1,640,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP increased its stake in Tiffany & Co. by 4,305.5% in the 2nd quarter. Marshall Wace LLP now owns 345,262 shares of the specialty retailer’s stock worth $45,436,000 after purchasing an additional 337,425 shares during the period. Castleark Management LLC purchased a new position in Tiffany & Co. in the 2nd quarter worth approximately $16,904,000. Nomura Asset Management Co. Ltd. increased its stake in Tiffany & Co. by 18.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 59,208 shares of the specialty retailer’s stock worth $7,792,000 after purchasing an additional 9,118 shares during the period. Morgan Stanley increased its stake in Tiffany & Co. by 49.4% in the 2nd quarter. Morgan Stanley now owns 1,076,833 shares of the specialty retailer’s stock worth $141,711,000 after purchasing an additional 355,896 shares during the period. Finally, Point72 Hong Kong Ltd increased its stake in Tiffany & Co. by 279.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,488 shares of the specialty retailer’s stock worth $327,000 after purchasing an additional 1,833 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of TIF stock opened at $107.01 on Friday. The company has a market capitalization of $13.42 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.00 and a beta of 1.75. Tiffany & Co. has a fifty-two week low of $90.46 and a fifty-two week high of $141.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 6.05.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.16. Tiffany & Co. had a return on equity of 18.67% and a net margin of 10.16%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Research analysts forecast that Tiffany & Co. will post 4.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Thursday, September 20th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, September 19th. This represents a $2.20 annualized dividend and a dividend yield of 2.06%. Tiffany & Co.’s dividend payout ratio is presently 53.27%.
In related news, Director William A. Shutzer sold 250 shares of Tiffany & Co. stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $126.29, for a total transaction of $31,572.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Francesco Trapani purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were purchased at an average price of $124.13 per share, for a total transaction of $620,650.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 60,000 shares of company stock worth $7,435,050 and have sold 22,148 shares worth $2,839,461. Insiders own 1.30% of the company’s stock.
A number of brokerages have commented on TIF. KeyCorp lifted their price target on Tiffany & Co. from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $160.00 price target on shares of Tiffany & Co. in a research note on Tuesday, August 28th. UBS Group upgraded Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 12th. Goldman Sachs Group started coverage on Tiffany & Co. in a research report on Monday, June 25th. They issued a “buy” rating and a $165.00 price objective on the stock. Finally, CIBC upgraded Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 12th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $131.75.
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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