Tiffany & Co. (TIF) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “A mature domestic market, foreign currency headwinds and cautious consumer spending have been weighing upon Tiffany’s performance. The company did make a comeback by posting an earnings beat in the second quarter – after commencing fiscal 2016 on a soft note – it failed to curb the year-over-year decline. This was the fourth quarter in row, when Tiffany’s top and bottom lines have declined. Management continues to anticipate earnings per share for fiscal 2016 to decline by a mid-single-digit percentage and worldwide net sales to decrease by a low-single-digit percentage from the prior year. Nevertheless, we believe that the company’s omni-channel platform, store expansion programs, tapping of new markets and venturing into new revenue generating avenues such as watches may help improve performance in the long run. We noted that estimates have been stable ahead of the company’s third quarter earnings release.”
Several other research firms have also weighed in on TIF. Jefferies Group raised their price objective on shares of Tiffany & Co. from $85.00 to $100.00 and gave the company a buy rating in a research report on Monday. Cowen and Company upgraded shares of Tiffany & Co. from a market perform rating to an outperform rating and raised their price objective for the company from $74.00 to $90.00 in a research report on Friday, November 11th. Wells Fargo & Co. reiterated an underperform rating on shares of Tiffany & Co. in a report on Wednesday. Nomura set a $76.00 target price on shares of Tiffany & Co. and gave the stock a buy rating in a report on Monday, August 29th. Finally, Mizuho raised their target price on shares of Tiffany & Co. from $72.00 to $82.00 and gave the stock a buy rating in a report on Monday, August 29th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $79.89.
Tiffany & Co. (NYSE:TIF) traded down 0.8138% during mid-day trading on Thursday, reaching $76.4825. 391,106 shares of the company were exchanged. The company’s 50 day moving average price is $73.98 and its 200-day moving average price is $67.62. Tiffany & Co. has a 12 month low of $56.99 and a 12 month high of $81.89. The stock has a market capitalization of $9.55 billion, a P/E ratio of 21.8147 and a beta of 1.84.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings data on Thursday, August 25th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The company earned $932 million during the quarter, compared to analyst estimates of $931.37 million. During the same quarter last year, the firm posted $0.86 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities analysts expect that Tiffany & Co. will post $3.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 10th. Stockholders of record on Tuesday, December 20th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.33%. Tiffany & Co.’s dividend payout ratio (DPR) is currently 51.28%.
In other news, SVP Philippe Galtie sold 482 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $72.01, for a total transaction of $34,708.82. Following the sale, the senior vice president now directly owns 670 shares of the company’s stock, valued at approximately $48,246.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in Tiffany & Co. by 2.1% in the second quarter. Thrivent Financial for Lutherans now owns 3,360 shares of the company’s stock valued at $204,000 after buying an additional 70 shares during the period. Ngam Advisors L.P. raised its stake in Tiffany & Co. by 0.4% in the third quarter. Ngam Advisors L.P. now owns 21,632 shares of the company’s stock valued at $1,571,000 after buying an additional 84 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Tiffany & Co. by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 24,372 shares of the company’s stock valued at $1,478,000 after buying an additional 100 shares during the period. World Asset Management Inc raised its stake in Tiffany & Co. by 0.9% in the second quarter. World Asset Management Inc now owns 11,000 shares of the company’s stock valued at $667,000 after buying an additional 103 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Tiffany & Co. by 0.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,587 shares of the company’s stock valued at $1,495,000 after buying an additional 113 shares during the period. 86.58% of the stock is currently owned by institutional investors and hedge funds.
Tiffany & Co. Company Profile
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO. retail stores. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other.
Receive News & Stock 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 stocks with our FREE daily email newsletter.