Koch Industries Inc. acquired a new stake in shares of Tiffany & Co. (NYSE:TIF) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,261 shares of the specialty retailer’s stock, valued at approximately $235,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westpac Banking Corp grew its holdings in Tiffany & Co. by 31.1% during the fourth quarter. Westpac Banking Corp now owns 37,666 shares of the specialty retailer’s stock worth $3,915,000 after buying an additional 8,940 shares in the last quarter. D L Carlson Investment Group Inc. bought a new stake in Tiffany & Co. during the fourth quarter worth $3,191,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Tiffany & Co. by 489.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,941 shares of the specialty retailer’s stock worth $362,000 after buying an additional 3,272 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Tiffany & Co. during the third quarter worth $274,000. Finally, Investec Asset Management LTD grew its holdings in Tiffany & Co. by 9.1% during the third quarter. Investec Asset Management LTD now owns 2,290,293 shares of the specialty retailer’s stock worth $210,203,000 after buying an additional 191,783 shares in the last quarter. Hedge funds and other institutional investors own 83.26% of the company’s stock.
In other news, Director Abby F. Kohnstamm sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $108.73, for a total transaction of $1,087,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Philippe Galtie sold 24,758 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $109.79, for a total value of $2,718,180.82. Following the transaction, the senior vice president now directly owns 10,813 shares in the company, valued at approximately $1,187,159.27. The disclosure for this sale can be found here. In the last three months, insiders sold 135,832 shares of company stock worth $14,611,214. Insiders own 1.40% of the company’s stock.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings data on Friday, March 16th. The specialty retailer reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.04. Tiffany & Co. had a return on equity of 15.77% and a net margin of 11.46%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. equities analysts expect that Tiffany & Co. will post 4.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Tuesday, March 20th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 19th. This represents a $2.00 annualized dividend and a yield of 2.05%. Tiffany & Co.’s dividend payout ratio is currently 53.76%.
Several equities research analysts recently issued reports on the company. Guggenheim reiterated a “buy” rating and set a $120.00 price target on shares of Tiffany & Co. in a report on Friday. Oppenheimer reiterated a “buy” rating on shares of Tiffany & Co. in a report on Wednesday, January 24th. Credit Suisse Group assumed coverage on Tiffany & Co. in a report on Monday, March 12th. They set an “outperform” rating and a $120.00 price target for the company. Zacks Investment Research downgraded Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Finally, Wells Fargo reiterated a “hold” rating on shares of Tiffany & Co. in a report on Wednesday, January 17th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.00.
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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