Traders Purchase Large Volume of Put Options on Tiffany & Co. (TIF)
Shares of Tiffany & Co. (NYSE:TIF) saw unusually large options trading activity on Tuesday. Stock traders bought 4,299 put options on the company, AR Network reports. This represents an increase of 469% compared to the average daily volume of 755 put options.
TIF has been the subject of a number of recent research reports. Analysts at Sterne Agee raised their price target on shares of Tiffany & Co. to $108.00 in a research note on Thursday, August 21st. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Tiffany & Co. in a research note on Wednesday, August 13th. They now have a $106.00 price target on the stock, up previously from $104.00. Finally, analysts at Barrington Research initiated coverage on shares of Tiffany & Co. in a research note on Monday, June 23rd. They set a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $98.18.
Shares of Tiffany & Co. (NYSE:TIF) traded up 0.54% during mid-day trading on Tuesday, hitting $100.77. 1,838,986 shares of the company’s stock traded hands. Tiffany & Co. has a 52 week low of $73.63 and a 52 week high of $103.38. The stock’s 50-day moving average is $99.19 and its 200-day moving average is $93.97. The company has a market cap of $13.004 billion and a price-to-earnings ratio of 57.77.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 10th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, September 18th.
Tiffany & Co (NYSE:TIF) is a holding company that operates through its subsidiary companies.
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