Commonwealth Bank of Australia grew its holdings in Tiffany & Co. (NYSE:TIF) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,715 shares of the specialty retailer’s stock after purchasing an additional 1,017 shares during the period. Commonwealth Bank of Australia’s holdings in Tiffany & Co. were worth $1,099,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TIF. Nationwide Fund Advisors lifted its holdings in shares of Tiffany & Co. by 4.0% in the first quarter. Nationwide Fund Advisors now owns 30,396 shares of the specialty retailer’s stock valued at $2,897,000 after purchasing an additional 1,156 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Tiffany & Co. by 200.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,510 shares of the specialty retailer’s stock valued at $1,859,000 after purchasing an additional 13,010 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Tiffany & Co. by 12.0% in the first quarter. UBS Asset Management Americas Inc. now owns 325,010 shares of the specialty retailer’s stock valued at $30,973,000 after purchasing an additional 34,902 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Tiffany & Co. in the first quarter valued at $4,418,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Tiffany & Co. by 29.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,939 shares of the specialty retailer’s stock valued at $757,000 after purchasing an additional 1,803 shares in the last quarter. Institutional investors own 79.76% of the company’s stock.
TIF has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) reduced their target price on Tiffany & Co. from $107.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, May 25th. Bank of America Corporation restated a “buy” rating and issued a $110.00 target price on shares of Tiffany & Co. in a report on Wednesday, June 28th. Zacks Investment Research lowered Tiffany & Co. from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub lowered Tiffany & Co. from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Tiffany & Co. in a report on Friday, September 8th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Tiffany & Co. has a consensus rating of “Buy” and an average target price of $92.81.
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Shares of Tiffany & Co. (NYSE:TIF) opened at 90.31 on Friday. The company has a market cap of $11.24 billion, a PE ratio of 24.53 and a beta of 1.91. The company has a 50 day moving average of $91.31 and a 200 day moving average of $91.90. Tiffany & Co. has a 1-year low of $70.55 and a 1-year high of $97.29.
Tiffany & Co. (NYSE:TIF) last released 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 net margin of 11.41% and a return on equity of 15.91%. The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $930.19 million. During the same period in the previous year, the business earned $0.84 EPS. Tiffany & Co.’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts expect that Tiffany & Co. will post $3.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Wednesday, September 20th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.21%. Tiffany & Co.’s dividend payout ratio (DPR) is currently 54.35%.
In related news, Director Francesco Trapani purchased 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average price of $89.34 per share, for a total transaction of $3,126,900.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $94.16, for a total transaction of $414,304,000.00. The disclosure for this sale can be found here. In the last quarter, insiders purchased 241,064 shares of company stock worth $21,467,464. 1.40% of the stock is owned by company insiders.
Tiffany & Co. 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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