Tiffany & Co. (TIF) Stake Raised by TD Asset Management Inc.
TD Asset Management Inc. raised its position in Tiffany & Co. (NYSE:TIF) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 363,055 shares of the company’s stock after buying an additional 35,609 shares during the period. TD Asset Management Inc. owned about 0.29% of Tiffany & Co. worth $26,369,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in Tiffany & Co. by 430.0% in the first quarter. Envestnet Asset Management Inc. now owns 11,735 shares of the company’s stock worth $861,000 after buying an additional 9,521 shares during the last quarter. LPL Financial LLC raised its position in Tiffany & Co. by 13.7% in the first quarter. LPL Financial LLC now owns 19,470 shares of the company’s stock worth $1,397,000 after buying an additional 2,339 shares during the last quarter. Panagora Asset Management Inc. raised its position in Tiffany & Co. by 16.2% in the first quarter. Panagora Asset Management Inc. now owns 151,419 shares of the company’s stock worth $11,111,000 after buying an additional 21,054 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in Tiffany & Co. during the first quarter worth approximately $478,000. Finally, Cullinan Associates Inc. raised its position in Tiffany & Co. by 7.2% in the second quarter. Cullinan Associates Inc. now owns 14,800 shares of the company’s stock worth $897,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 87.59% of the company’s stock.
Tiffany & Co. (NYSE:TIF) traded up 3.31% during mid-day trading on Wednesday, hitting $83.27. 1,693,139 shares of the company were exchanged. The company has a market capitalization of $10.40 billion, a P/E ratio of 23.75 and a beta of 1.84. Tiffany & Co. has a 12-month low of $56.99 and a 12-month high of $84.92. The company’s 50-day moving average is $74.94 and its 200 day moving average is $67.93.
Tiffany & Co. (NYSE:TIF) last issued its earnings results on Tuesday, November 29th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The firm had revenue of $949.30 million for the quarter. During the same quarter in the prior year, the business earned $0.70 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts expect that Tiffany & Co. will post $3.66 EPS for the current year.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.23%. Tiffany & Co.’s dividend payout ratio (DPR) is presently 51.28%.
A number of equities analysts have recently commented on TIF shares. Morgan Stanley reiterated a “hold” rating on shares of Tiffany & Co. in a research note on Monday, August 15th. Mizuho lifted their price objective on Tiffany & Co. from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Deutsche Bank AG reiterated a “hold” rating and issued a $73.00 price objective on shares of Tiffany & Co. in a research note on Wednesday, August 24th. Royal Bank Of Canada lifted their price objective on Tiffany & Co. from $65.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Friday, August 26th. Finally, Citigroup Inc. boosted their price target on Tiffany & Co. from $71.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Tiffany & Co. currently has a consensus rating of “Buy” and an average price target of $79.43.
In other news, SVP Philippe Galtie sold 482 shares of Tiffany & Co. stock in a transaction 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 transaction, the senior vice president now owns 670 shares in the company, valued at $48,246.70. The sale was disclosed in a document filed with the SEC, which is available 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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