Tiffany & Co. Declares Quarterly Dividend of $0.58 (NYSE:TIF)
Tiffany & Co. (NYSE:TIF) announced a quarterly dividend on Tuesday, August 13th, RTT News reports. Shareholders of record on Friday, September 20th will be paid a dividend of 0.58 per share by the specialty retailer on Thursday, October 10th. This represents a $2.32 dividend on an annualized basis and a yield of 2.91%.
Tiffany & Co. has raised its dividend payment by an average of 10.4% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Tiffany & Co. has a payout ratio of 48.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Tiffany & Co. to earn $5.26 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 44.1%.
Tiffany & Co. stock traded down $3.02 during trading hours on Thursday, reaching $79.71. 1,401,382 shares of the stock were exchanged, compared to its average volume of 1,379,375. The company has a market cap of $10.57 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.62 and a beta of 1.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.36 and a current ratio of 4.17. Tiffany & Co. has a twelve month low of $73.04 and a twelve month high of $138.41. The stock has a 50 day moving average price of $92.16.
A number of equities research analysts have issued reports on the stock. HSBC set a $122.00 price objective on shares of Tiffany & Co. and gave the stock a “buy” rating in a research note on Friday, June 14th. Citigroup downgraded shares of Tiffany & Co. from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $115.00 to $100.00 in a research note on Monday, July 15th. UBS Group set a $98.00 price objective on shares of Tiffany & Co. and gave the stock a “hold” rating in a research note on Tuesday, June 11th. Finally, Loop Capital downgraded shares of Tiffany & Co. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $110.00 to $91.85 in a research note on Tuesday, June 25th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $112.21.
In other news, Director Abby F. Kohnstamm sold 11,912 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $90.70, for a total value of $1,080,418.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Francesco Trapani sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $92.10, for a total transaction of $23,025,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 264,577 shares of company stock worth $24,346,681. 1.30% of the stock is currently owned by corporate insiders.
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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