Osborne Partners Capital Management LLC Purchases Shares of 2,000 Tiffany & Co. (TIF)
Osborne Partners Capital Management LLC purchased a new position in shares of Tiffany & Co. (NYSE:TIF) during the first quarter, Holdings Channel reports. The fund purchased 2,000 shares of the specialty retailer’s stock, valued at approximately $211,000.
Several other hedge funds have also modified their holdings of TIF. CSat Investment Advisory L.P. boosted its position in Tiffany & Co. by 169.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 334 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 210 shares during the last quarter. Synovus Financial Corp purchased a new stake in Tiffany & Co. in the fourth quarter valued at approximately $28,000. Rational Advisors LLC purchased a new stake in Tiffany & Co. in the fourth quarter valued at approximately $37,000. Signet Investment Advisory Group Inc. purchased a new stake in Tiffany & Co. in the fourth quarter valued at approximately $40,000. Finally, Moody National Bank Trust Division boosted its position in Tiffany & Co. by 938.0% in the fourth quarter. Moody National Bank Trust Division now owns 519 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.
TIF has been the topic of a number of recent research reports. Guggenheim reiterated a “buy” rating and issued a $110.00 target price on shares of Tiffany & Co. in a research report on Friday, January 18th. Bank of America reaffirmed a “neutral” rating and set a $104.00 target price (up from $95.00) on shares of Tiffany & Co. in a research note on Wednesday, March 20th. Wells Fargo & Co reduced their target price on Tiffany & Co. from $100.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday, January 2nd. Sanford C. Bernstein initiated coverage on Tiffany & Co. in a research note on Tuesday, April 16th. They set an “outperform” rating and a $125.00 target price for the company. Finally, ValuEngine downgraded Tiffany & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $116.78.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings data on Friday, March 22nd. The specialty retailer reported $1.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.60. Tiffany & Co. had a return on equity of 18.52% and a net margin of 13.20%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company earned $1.67 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Tiffany & Co. will post 4.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 20th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, March 19th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 47.62%.
In other Tiffany & Co. news, SVP Andrew W. Hart sold 7,428 shares of the firm’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $87.39, for a total value of $649,132.92. Following the completion of the sale, the senior vice president now directly owns 19,024 shares of the company’s stock, valued at approximately $1,662,507.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philippe Galtie sold 1,263 shares of the firm’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $88.23, for a total value of $111,434.49. Following the completion of the sale, the insider now directly owns 6,010 shares of the company’s stock, valued at $530,262.30. The disclosure for this sale can be found here. Insiders sold a total of 16,819 shares of company stock valued at $1,602,466 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
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Tiffany & Co. Company Profile
Tiffany & Co, through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells watches, home and accessories products, eyewear, and fragrances; and wholesales diamonds and earnings.
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