Tiffany & Co. (TIF) Rating Increased to Buy at Goldman Sachs Group, Inc. (The)
Tiffany & Co. (NYSE:TIF) was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a research report issued on Friday, May 12th, MarketBeat reports. The firm presently has a $107.00 price objective on the specialty retailer’s stock, up from their previous price objective of $82.00. Goldman Sachs Group, Inc. (The)’s target price suggests a potential upside of 16.20% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the stock. William Blair restated a “market perform” rating on shares of Tiffany & Co. in a report on Monday, February 6th. Telsey Advisory Group cut their price target on shares of Tiffany & Co. from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Monday, March 20th. Cowen and Company reissued an “outperform” rating and set a $91.00 target price on shares of Tiffany & Co. in a report on Tuesday, January 17th. Bank of America Corporation reissued a “buy” rating and set a $110.00 target price on shares of Tiffany & Co. in a report on Wednesday, May 10th. Finally, Jefferies Group LLC reaffirmed a “positive” rating and issued a $102.00 price objective on shares of Tiffany & Co. in a report on Monday, February 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Tiffany & Co. has a consensus rating of “Buy” and a consensus target price of $92.36.
Tiffany & Co. (TIF) traded up 1.72% during midday trading on Friday, reaching $92.08. The company’s stock had a trading volume of 1,832,620 shares. Tiffany & Co. has a one year low of $56.99 and a one year high of $97.29. The stock has a market cap of $11.48 billion, a price-to-earnings ratio of 25.56 and a beta of 1.87. The stock’s 50 day moving average price is $91.18 and its 200-day moving average price is $87.06.
Tiffany & Co. (NYSE:TIF) last announced its earnings results on Wednesday, May 24th. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $899.60 million during the quarter, compared to analysts’ expectations of $915.48 million. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.91%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, analysts forecast that Tiffany & Co. will post $3.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Tuesday, June 20th will be issued a dividend of $0.50 per share. This is a positive change from Tiffany & Co.’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, June 16th. Tiffany & Co.’s dividend payout ratio is 50.00%.
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In other news, insider Andrew W. Hart sold 969 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $95.43, for a total transaction of $92,471.67. Following the completion of the transaction, the insider now directly owns 5,623 shares in the company, valued at $536,602.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Winter Jennifer De sold 927 shares of the firm’s stock in a transaction dated Friday, April 7th. The stock was sold at an average price of $93.60, for a total value of $86,767.20. Following the transaction, the insider now owns 3,325 shares of the company’s stock, valued at $311,220. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,838 shares of company stock valued at $8,550,648. 1.40% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Tiffany & Co. by 2,886.2% in the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock worth $665,271,000 after buying an additional 6,747,028 shares during the period. Norges Bank bought a new position in shares of Tiffany & Co. during the fourth quarter valued at about $124,477,000. Investec Asset Management LTD bought a new position in shares of Tiffany & Co. during the fourth quarter valued at about $85,552,000. Franklin Resources Inc. boosted its position in shares of Tiffany & Co. by 25.6% in the fourth quarter. Franklin Resources Inc. now owns 4,284,780 shares of the specialty retailer’s stock valued at $331,771,000 after buying an additional 874,396 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Tiffany & Co. during the first quarter valued at about $39,206,000. 82.71% of the stock is owned by hedge funds and other institutional investors.
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. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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