Tiffany & Co. (TIF) Announces Quarterly Earnings Results
Tiffany & Co. (NYSE:TIF) posted its quarterly earnings results on Tuesday. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. The firm had revenue of $949.30 million for the quarter, compared to the consensus estimate of $926.64 million. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share.
Tiffany & Co. (NYSE:TIF) opened at 78.14 on Tuesday. Tiffany & Co. has a 52-week low of $56.99 and a 52-week high of $81.89. The stock’s 50 day moving average price is $74.94 and its 200-day moving average price is $67.93. The company has a market capitalization of $9.76 billion, a P/E ratio of 22.29 and a beta of 1.84.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 10th. Stockholders of record on Tuesday, December 20th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.31%. Tiffany & Co.’s dividend payout ratio is currently 51.28%.
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Several research firms have commented on TIF. Zacks Investment Research downgraded shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Bank of America Corp. set a $75.00 price target on shares of Tiffany & Co. and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Mizuho set a $82.00 price target on shares of Tiffany & Co. and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Citigroup Inc. lifted their price target on shares of Tiffany & Co. from $71.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, August 26th. Finally, Royal Bank Of Canada lifted their price target on shares of Tiffany & Co. from $65.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $78.95.
In related news, SVP Philippe Galtie sold 482 shares of Tiffany & Co. 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 in the company, valued at $48,246.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Investment Management LLC boosted its stake in Tiffany & Co. by 3.6% in the second quarter. BlackRock Investment Management LLC now owns 314,201 shares of the company’s stock worth $19,053,000 after buying an additional 10,867 shares during the period. BlackRock Inc. boosted its stake in Tiffany & Co. by 14.5% in the second quarter. BlackRock Inc. now owns 235,296 shares of the company’s stock worth $14,269,000 after buying an additional 29,841 shares during the period. BlackRock Fund Advisors boosted its stake in Tiffany & Co. by 1.0% in the second quarter. BlackRock Fund Advisors now owns 1,758,827 shares of the company’s stock worth $106,655,000 after buying an additional 17,004 shares during the period. BlackRock Group LTD boosted its stake in Tiffany & Co. by 9.8% in the second quarter. BlackRock Group LTD now owns 1,261,292 shares of the company’s stock worth $76,484,000 after buying an additional 112,792 shares during the period. Finally, Reliance Trust Co. of Delaware acquired a new stake in Tiffany & Co. during the second quarter worth approximately $254,000. Institutional investors own 87.59% of the company’s stock.
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.
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