Tiffany & Co. (TIF) Posts Earnings Results
Tiffany & Co. (NYSE:TIF) issued its quarterly earnings data on Tuesday. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.09. The company earned $949.30 million during the quarter, compared to analysts’ expectations of $926.64 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% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share.
Shares of Tiffany & Co. (NYSE:TIF) opened at 78.14 on Tuesday. 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 cap of $9.76 billion, a PE ratio of 22.29 and a beta of 1.84. Tiffany & Co. has a 52 week low of $56.99 and a 52 week high of $81.89.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 10th. Stockholders of record on Tuesday, December 20th will be paid 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%.
TIF has been the subject of a number of analyst reports. Morgan Stanley reissued a “hold” rating on shares of Tiffany & Co. in a report on Monday, August 15th. Mizuho lifted their price objective on 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 reissued a “sector perform” rating and set a $76.00 price objective (up from $65.00) on shares of Tiffany & Co. in a report on Sunday, August 28th. Cowen and Company raised Tiffany & Co. from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $90.00 in a report on Friday, November 11th. Finally, Jefferies Group lifted their price target on Tiffany & Co. from $85.00 to $100.00 and gave the company a “buy” rating in a report on Monday, November 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $78.95.
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In related news, SVP Philippe Galtie sold 482 shares of the firm’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 sale, the senior vice president now owns 670 shares of the company’s stock, valued at $48,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in Tiffany & Co. by 9.9% in the second quarter. Pacer Advisors Inc. now owns 2,051 shares of the company’s stock valued at $124,000 after buying an additional 184 shares in the last quarter. LPL Financial LLC acquired a new stake in Tiffany & Co. during the third quarter valued at approximately $203,000. Dai Ichi Life Holdings Inc. acquired a new stake in Tiffany & Co. during the third quarter valued at approximately $220,000. Thrivent Financial for Lutherans boosted 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 in the last quarter. Finally, Verition Fund Management LLC boosted its stake in Tiffany & Co. by 10.9% in the third quarter. Verition Fund Management LLC now owns 4,137 shares of the company’s stock valued at $300,000 after buying an additional 406 shares in the last quarter. 87.59% of the stock is 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.
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