Daiwa Securities Group Inc. Lowers Stake in Tiffany & Co. (TIF)
Daiwa Securities Group Inc. lowered its stake in Tiffany & Co. (NYSE:TIF) by 22.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,350 shares of the company’s stock after selling 12,200 shares during the period. Daiwa Securities Group Inc.’s holdings in Tiffany & Co. were worth $3,003,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of TIF. Thrivent Financial for Lutherans raised its position 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 last quarter. Oregon Public Employees Retirement Fund raised its position 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 last quarter. World Asset Management Inc raised its position 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 last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of 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. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Tiffany & Co. by 1.2% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,276 shares of the company’s stock valued at $683,000 after buying an additional 137 shares during the period. 87.59% of the stock is currently owned by hedge funds and other institutional investors.
Tiffany & Co. (NYSE:TIF) traded up 3.15% during trading on Tuesday, reaching $80.60. The company had a trading volume of 9,411,810 shares. The firm has a market capitalization of $10.07 billion, a P/E ratio of 22.99 and a beta of 1.84. Tiffany & Co. has a 52-week low of $56.99 and a 52-week high of $84.40. The company has a 50-day moving average of $74.94 and a 200-day moving average of $67.93.
Tiffany & Co. (NYSE:TIF) last posted its earnings results on Tuesday, November 29th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.09. The company earned $949.30 million during the quarter, compared to analyst estimates of $922.60 million. Tiffany & Co. had a return on equity of 15.90% and a net margin of 11.26%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. Analysts expect that Tiffany & Co. will post $3.66 EPS 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 2.23%. Tiffany & Co.’s dividend payout ratio (DPR) is presently 51.28%.
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TIF has been the topic of several recent research reports. Deutsche Bank AG restated a “hold” rating and set a $73.00 price target on shares of Tiffany & Co. in a report on Wednesday, August 24th. Mizuho upped their price target on Tiffany & Co. from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 29th. Zacks Investment Research upgraded Tiffany & Co. from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, October 31st. Guggenheim initiated coverage on Tiffany & Co. in a report on Friday, September 30th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Wells Fargo & Co. restated an “underperform” rating on shares of Tiffany & Co. in a report on Wednesday, November 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Tiffany & Co. has a consensus rating of “Buy” and a consensus target price of $78.99.
In other news, SVP Philippe Galtie sold 482 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 670 shares of the company’s stock, valued at $48,246.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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