Tiffany & Co. (TIF) to Issue Quarterly Dividend of $0.50 on October 10th
Tiffany & Co. (NYSE:TIF) declared a quarterly dividend on Thursday, August 17th, RTT News reports. Stockholders of record on Wednesday, September 20th will be paid a dividend of 0.50 per share by the specialty retailer on Tuesday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Tuesday, September 19th.
Tiffany & Co. has raised its dividend payment by an average of 8.8% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Tiffany & Co. has a dividend payout ratio of 50.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tiffany & Co. to earn $4.30 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 46.5%.
Tiffany & Co. (NYSE:TIF) opened at 95.51 on Thursday. The stock has a market capitalization of $11.89 billion, a P/E ratio of 25.94 and a beta of 1.91. The stock has a 50 day moving average price of $91.55 and a 200-day moving average price of $91.89. Tiffany & Co. has a one year low of $68.12 and a one year high of $97.29.
Tiffany & Co. (NYSE:TIF) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. The firm had revenue of $960.00 million for the quarter, compared to analyst estimates of $930.19 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. Tiffany & Co.’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Analysts anticipate that Tiffany & Co. will post $3.97 earnings per share for the current year.
TIF has been the topic of several recent analyst reports. Cowen and Company reissued an “outperform” rating and issued a $107.00 target price on shares of Tiffany & Co. in a report on Tuesday, May 23rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $88.00 target price (down previously from $93.00) on shares of Tiffany & Co. in a report on Thursday, May 25th. Credit Suisse Group set a $82.00 target price on Tiffany & Co. and gave the company a “hold” rating in a report on Wednesday, May 24th. Jefferies Group LLC reissued a “buy” rating on shares of Tiffany & Co. in a report on Wednesday, May 24th. Finally, Oppenheimer Holdings, Inc. set a $105.00 target price on Tiffany & Co. and gave the company a “buy” rating in a report on Wednesday, May 24th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $92.81.
In related news, Director Francesco Trapani acquired 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $89.34 per share, for a total transaction of $3,126,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pamela H. Cloud sold 37,000 shares of Tiffany & Co. stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $93.52, for a total value of $3,460,240.00. Following the transaction, the insider now owns 47,261 shares of the company’s stock, valued at $4,419,848.72. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 241,064 shares of company stock valued at $21,467,464. Insiders own 1.40% 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. 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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