Tiffany & Co. (TIF) Position Increased by Gofen & Glossberg LLC IL
Gofen & Glossberg LLC IL boosted its stake in shares of Tiffany & Co. (NYSE:TIF) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,118 shares of the company’s stock after buying an additional 279 shares during the period. Gofen & Glossberg LLC IL owned about 0.08% of Tiffany & Co. worth $6,908,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in TIF. First Eagle Investment Management LLC raised its position in Tiffany & Co. by 261.2% in the second quarter. First Eagle Investment Management LLC now owns 3,876,154 shares of the company’s stock valued at $235,050,000 after buying an additional 2,803,126 shares during the last quarter. International Value Advisers LLC purchased a new position in Tiffany & Co. during the second quarter valued at about $67,971,000. Victory Capital Management Inc. raised its position in Tiffany & Co. by 80.2% in the second quarter. Victory Capital Management Inc. now owns 1,444,603 shares of the company’s stock valued at $87,600,000 after buying an additional 642,759 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Tiffany & Co. during the second quarter valued at about $30,028,000. Finally, State Street Corp raised its position in Tiffany & Co. by 7.4% in the second quarter. State Street Corp now owns 4,867,008 shares of the company’s stock valued at $295,150,000 after buying an additional 336,259 shares during the last quarter. Institutional investors and hedge funds own 86.44% of the company’s stock.
Tiffany & Co. (NYSE:TIF) traded up 0.54% during mid-day trading on Monday, hitting $76.76. 934,628 shares of the stock traded hands. The company’s 50 day moving average is $74.24 and its 200 day moving average is $67.66. Tiffany & Co. has a 12 month low of $56.99 and a 12 month high of $81.89. The company has a market cap of $9.59 billion, a P/E ratio of 21.89 and a beta of 1.84.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings data on Thursday, August 25th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. The firm earned $932 million during the quarter, compared to analysts’ expectations of $931.37 million. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. On average, analysts expect that Tiffany & Co. will post $3.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 10th. Investors of record on Tuesday, December 20th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.34%. Tiffany & Co.’s dividend payout ratio (DPR) is 51.28%.
Several equities analysts recently issued reports on TIF shares. Morgan Stanley restated a “hold” rating on shares of Tiffany & Co. in a report on Monday, August 15th. Mizuho upped their price objective on shares of Tiffany & Co. from $72.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, August 23rd. RBC Capital Markets reiterated a “sector perform” rating and set a $76.00 price objective (up previously from $65.00) on shares of Tiffany & Co. in a report on Sunday, August 28th. Cowen and Company upgraded shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $74.00 to $90.00 in a report on Friday, November 11th. Finally, Jefferies Group upped their price objective on shares of Tiffany & Co. from $85.00 to $100.00 and gave the company a “buy” rating in a report on Monday, November 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Tiffany & Co. has an average rating of “Buy” and a consensus price target of $78.64.
In related news, SVP Philippe Galtie sold 482 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $72.01, for a total transaction of $34,708.82. Following the completion of the sale, the senior vice president now directly owns 670 shares in the company, valued at $48,246.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
About Tiffany & Co.
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.
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