Tiffany & Co. (TIF) Given “Hold” Rating at KeyCorp
Tiffany & Co. (NYSE:TIF)‘s stock had its “hold” rating reiterated by equities researchers at KeyCorp in a report released on Wednesday.
Several other brokerages have also weighed in on TIF. Royal Bank Of Canada reissued a “hold” rating on shares of Tiffany & Co. in a report on Friday, July 7th. Bank of America Corporation reaffirmed a “buy” rating and set a $110.00 target price on shares of Tiffany & Co. in a report on Wednesday, June 28th. BidaskClub raised Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Tiffany & Co. in a report on Friday, September 8th. Finally, Needham & Company LLC initiated coverage on Tiffany & Co. in a report on Tuesday, July 18th. They set a “hold” rating for the company. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $94.91.
Tiffany & Co. (TIF) traded down 1.03% during trading on Wednesday, hitting $92.31. 906,319 shares of the company traded hands. Tiffany & Co. has a 12-month low of $71.46 and a 12-month high of $97.29. The company has a market capitalization of $11.49 billion, a P/E ratio of 25.07 and a beta of 1.92. The stock has a 50 day moving average price of $91.44 and a 200 day moving average price of $91.93.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The company had revenue of $960.00 million during the quarter, compared to analyst estimates of $930.19 million. During the same quarter last year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that Tiffany & Co. will post $3.97 earnings per share for the current year.
In related news, major shareholder Qatar Investment Authority sold 4,400,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $94.16, for a total value of $414,304,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Francesco Trapani bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was purchased at an average price of $89.34 per share, with a total value of $2,233,500.00. The disclosure for this purchase can be found here. Insiders purchased a total of 267,064 shares of company stock valued at $23,789,094 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in TIF. BlackRock Inc. lifted its position in Tiffany & Co. by 2,886.2% in the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock valued at $665,271,000 after purchasing an additional 6,747,028 shares during the last quarter. Janus Henderson Group PLC lifted its position in Tiffany & Co. by 9,785.1% in the second quarter. Janus Henderson Group PLC now owns 1,212,501 shares of the specialty retailer’s stock valued at $113,818,000 after purchasing an additional 1,200,235 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Tiffany & Co. in the first quarter valued at approximately $39,206,000. Cramer Rosenthal Mcglynn LLC bought a new stake in Tiffany & Co. in the second quarter valued at approximately $30,981,000. Finally, Victory Capital Management Inc. lifted its position in Tiffany & Co. by 21.0% in the second quarter. Victory Capital Management Inc. now owns 1,835,834 shares of the specialty retailer’s stock valued at $172,329,000 after purchasing an additional 318,238 shares during the last quarter. Institutional investors 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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