Tiffany & Co. (TIF) Stake Decreased by Bamco Inc. NY
Bamco Inc. NY decreased its position in shares of Tiffany & Co. (NYSE:TIF) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 266,887 shares of the specialty retailer’s stock after selling 10,257 shares during the period. Bamco Inc. NY owned about 0.21% of Tiffany & Co. worth $25,053,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Tiffany & Co. by 2.6% during the second quarter. Vanguard Group Inc. now owns 12,229,111 shares of the specialty retailer’s stock worth $1,147,947,000 after buying an additional 310,235 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Tiffany & Co. by 2,886.2% during 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 in the last quarter. State Street Corp increased its holdings in shares of Tiffany & Co. by 0.3% during the first quarter. State Street Corp now owns 4,884,771 shares of the specialty retailer’s stock worth $465,549,000 after buying an additional 12,498 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Tiffany & Co. by 2.7% during the second quarter. First Eagle Investment Management LLC now owns 4,140,990 shares of the specialty retailer’s stock worth $388,715,000 after buying an additional 109,926 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Tiffany & Co. by 0.7% during the first quarter. FMR LLC now owns 2,463,909 shares of the specialty retailer’s stock worth $234,810,000 after buying an additional 17,572 shares in the last quarter. 79.71% of the stock is owned by institutional investors.
Shares of Tiffany & Co. (NYSE:TIF) traded up 0.92% during midday trading on Friday, reaching $91.78. 1,869,156 shares of the company’s stock traded hands. The company has a 50 day moving average of $90.97 and a 200 day moving average of $91.89. Tiffany & Co. has a 52-week low of $70.55 and a 52-week high of $97.29. The firm has a market cap of $11.43 billion, a PE ratio of 24.93 and a beta of 1.91.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. Tiffany & Co. had a net margin of 11.41% and a return on equity of 15.91%. The firm had revenue of $960.00 million for the quarter, compared to analyst estimates of $930.19 million. During the same period last year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Tiffany & Co. will post $3.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Wednesday, September 20th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Tuesday, September 19th. Tiffany & Co.’s dividend payout ratio (DPR) is 54.35%.
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In other news, major shareholder Qatar Investment Authority sold 4,400,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $94.16, for a total value of $414,304,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Francesco Trapani bought 76,064 shares of the stock in a transaction dated Thursday, August 31st. The stock was purchased at an average price of $88.69 per share, with a total value of $6,746,116.16. The disclosure for this purchase can be found here. Insiders acquired 267,064 shares of company stock worth $23,789,094 over the last ninety days. Insiders own 1.40% of the company’s stock.
Several research firms have recently weighed in on TIF. BidaskClub lowered shares of Tiffany & Co. from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC set a $110.00 price objective on shares of Tiffany & Co. and gave the stock a “buy” rating in a report on Wednesday, August 16th. 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 report on Monday, August 14th. Goldman Sachs Group, Inc. (The) lowered shares of Tiffany & Co. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $106.00 to $94.00 in a report on Friday, September 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tiffany & Co. in a report on Friday, August 25th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Tiffany & Co. has a consensus rating of “Buy” and an average price target of $92.97.
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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