Tiffany & Co.’s (TIF) “Hold” Rating Reaffirmed at Needham & Company LLC
TIF has been the subject of a number of other reports. Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $104.00 price objective on shares of Tiffany & Co. in a research note on Thursday, June 1st. Bank of America Corporation reissued a buy rating and set a $110.00 price objective on shares of Tiffany & Co. in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Tiffany & Co. from a hold rating to a buy rating and set a $100.00 price objective for the company in a research note on Monday, August 14th. Royal Bank Of Canada reissued a sector perform rating and set a $88.00 price objective (down from $93.00) on shares of Tiffany & Co. in a research note on Thursday, May 25th. Finally, BidaskClub raised shares of Tiffany & Co. from a buy rating to a strong-buy rating in a research note on Tuesday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $92.81.
Shares of Tiffany & Co. (NYSE:TIF) opened at 89.35 on Friday. The stock has a market cap of $11.13 billion, a PE ratio of 24.27 and a beta of 1.92. The company’s 50 day moving average price is $91.69 and its 200 day moving average price is $91.16. Tiffany & Co. has a 52-week low of $66.35 and a 52-week high of $97.29.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.06. Tiffany & Co. had a net margin of 11.41% and a return on equity of 15.91%. The business had revenue of $960 million during the quarter, compared to analysts’ expectations of $930.19 million. During the same period last year, the company posted $0.84 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that Tiffany & Co. will post $3.99 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Wednesday, September 20th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.24%. Tiffany & Co.’s dividend payout ratio (DPR) is presently 54.35%.
Institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. raised its position in shares of Tiffany & Co. by 325.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the specialty retailer’s stock worth $132,000 after buying an additional 1,300 shares during the period. Bank of Montreal Can raised its position in shares of Tiffany & Co. by 49.6% in the first quarter. Bank of Montreal Can now owns 59,412 shares of the specialty retailer’s stock worth $5,662,000 after buying an additional 19,692 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Tiffany & Co. during the first quarter worth $497,000. Retirement Systems of Alabama raised its position in shares of Tiffany & Co. by 2.0% in the first quarter. Retirement Systems of Alabama now owns 51,736 shares of the specialty retailer’s stock worth $4,930,000 after buying an additional 1,005 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Tiffany & Co. by 17.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 10,816 shares of the specialty retailer’s stock worth $1,031,000 after buying an additional 1,621 shares during the period. Institutional investors own 79.70% 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. 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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