Oppenheimer & Co. Inc. Decreases Stake in Tiffany & Co. (TIF)
Oppenheimer & Co. Inc. lowered its position in Tiffany & Co. (NYSE:TIF) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 118,923 shares of the specialty retailer’s stock after selling 2,910 shares during the period. Oppenheimer & Co. Inc. owned 0.10% of Tiffany & Co. worth $10,915,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Tiffany & Co. by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,229,111 shares of the specialty retailer’s stock valued at $1,147,947,000 after buying an additional 310,235 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Tiffany & Co. by 2.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 4,140,990 shares of the specialty retailer’s stock worth $388,715,000 after purchasing an additional 109,926 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Tiffany & Co. by 22.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,247,321 shares of the specialty retailer’s stock worth $206,259,000 after purchasing an additional 411,487 shares in the last quarter. Investec Asset Management LTD increased its holdings in shares of Tiffany & Co. by 2.2% in the 2nd quarter. Investec Asset Management LTD now owns 2,098,510 shares of the specialty retailer’s stock worth $196,987,000 after purchasing an additional 44,516 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Tiffany & Co. by 9,785.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,212,501 shares of the specialty retailer’s stock worth $113,818,000 after purchasing an additional 1,200,235 shares in the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on TIF shares. KeyCorp reissued a “hold” rating on shares of Tiffany & Co. in a report on Wednesday, October 11th. Zacks Investment Research lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Susquehanna Bancshares Inc started coverage on Tiffany & Co. in a report on Thursday, November 2nd. They issued a “neutral” rating and a $100.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Tiffany & Co. in a report on Tuesday, October 17th. Finally, Cowen and Company set a $102.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a report on Wednesday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $94.91.
In other news, insider Pamela H. Cloud sold 37,000 shares of Tiffany & Co. stock in a transaction dated 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 sale, the insider now directly owns 47,261 shares of the company’s stock, valued at $4,419,848.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Francesco Trapani bought 48,936 shares of Tiffany & Co. stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average cost of $89.16 per share, for a total transaction of $4,363,133.76. The disclosure for this purchase can be found here. Insiders bought 267,064 shares of company stock worth $23,789,094 over the last ninety days. Insiders own 1.40% of the company’s stock.
Tiffany & Co. (NYSE:TIF) traded up $0.55 during trading hours on Thursday, reaching $94.09. The company’s stock had a trading volume of 938,400 shares, compared to its average volume of 1,653,040. The company has a current ratio of 5.75, a quick ratio of 2.29 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $11,780.00, a PE ratio of 24.17, a PEG ratio of 2.19 and a beta of 1.96. Tiffany & Co. has a twelve month low of $76.08 and a twelve month high of $97.29.
Tiffany & Co. (NYSE:TIF) last issued its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $930.19 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. research analysts forecast that Tiffany & Co. will post 3.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 20th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. Tiffany & Co.’s dividend payout ratio (DPR) is 54.20%.
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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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