Tiffany & Co. (TIF) Raised to “Buy” at HSBC Holdings plc
HSBC Holdings plc upgraded shares of Tiffany & Co. (NYSE:TIF) from a hold rating to a buy rating in a report published on Monday, MarketBeat.com reports. The firm currently has $110.00 price objective on the specialty retailer’s stock, up from their prior price objective of $90.00.
A number of other research analysts have also recently issued reports on the stock. Bank of America Corporation reissued a buy rating and issued a $110.00 price objective on shares of Tiffany & Co. in a research note on Wednesday, June 28th. Oppenheimer Holdings, Inc. reissued a buy rating on shares of Tiffany & Co. in a research note on Friday, September 8th. BidaskClub raised shares of Tiffany & Co. from a buy rating to a strong-buy rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Tiffany & Co. from a hold rating to a sell rating in a research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Tiffany & Co. from a buy rating to a neutral rating and decreased their price objective for the company from $106.00 to $94.00 in a research note on Friday, September 22nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $94.91.
Shares of Tiffany & Co. (NYSE:TIF) opened at 94.00 on Monday. The company’s 50-day moving average price is $90.69 and its 200-day moving average price is $91.97. Tiffany & Co. has a 52-week low of $71.46 and a 52-week high of $97.29. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 25.53 and a beta of 1.92.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The business had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $930.19 million. Tiffany & Co. had a net margin of 11.41% and a return on equity of 15.91%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. Equities research analysts forecast that Tiffany & Co. will post $3.97 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. Tiffany & Co.’s dividend payout ratio (DPR) is presently 54.35%.
In other news, Director Robert S. Singer bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were acquired at an average price of $88.13 per share, for a total transaction of $88,130.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Francesco Trapani bought 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average price of $89.34 per share, for a total transaction of $3,126,900.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 267,064 shares of company stock worth $23,789,094. 1.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. lifted its holdings in Tiffany & Co. by 28.4% in the second quarter. Achmea Investment Management B.V. now owns 19,472 shares of the specialty retailer’s stock valued at $1,824,000 after buying an additional 4,308 shares during the period. Sentry Investment Management LLC lifted its holdings in Tiffany & Co. by 1.5% in the second quarter. Sentry Investment Management LLC now owns 45,630 shares of the specialty retailer’s stock valued at $4,283,000 after buying an additional 696 shares during the period. Toronto Dominion Bank lifted its holdings in Tiffany & Co. by 25.5% in the second quarter. Toronto Dominion Bank now owns 36,809 shares of the specialty retailer’s stock valued at $3,455,000 after buying an additional 7,484 shares during the period. Advisory Services Network LLC lifted its holdings in Tiffany & Co. by 159.8% in the second quarter. Advisory Services Network LLC now owns 3,634 shares of the specialty retailer’s stock valued at $341,000 after buying an additional 2,235 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new position in Tiffany & Co. in the second quarter valued at $1,286,000. Institutional investors and hedge funds own 79.71% 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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