Insider Selling: Tiffany & Co. EVP Sells 50,642 Shares of Stock (TIF)
Tiffany & Co. (NYSE:TIF) EVP Beth O. Canavan unloaded 50,642 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $100.95, for a total transaction of $5,112,309.90. Following the completion of the transaction, the executive vice president now directly owns 32,212 shares of the company’s stock, valued at approximately $3,251,801. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Tiffany & Co. (NYSE:TIF) traded down 0.81% on Wednesday, hitting $100.86. 1,117,171 shares of the company’s stock traded hands. Tiffany & Co. has a one year low of $73.63 and a one year high of $105.66. The stock has a 50-day moving average of $99.09 and a 200-day moving average of $94.52. The company has a market cap of $13.041 billion and a P/E ratio of 54.70.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.85 by $0.11. The company had revenue of $993.00 million for the quarter, compared to the consensus estimate of $987.90 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that Tiffany & Co. will post $4.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 10th. Investors of record on Monday, September 22nd will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, September 18th.
A number of analysts have recently weighed in on TIF shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of Tiffany & Co. from $103.00 to $106.00 in a research note on Tuesday. Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Tiffany & Co. in a research note on Thursday, August 28th. They now have a $115.00 price target on the stock, up previously from $105.00. Finally, analysts at Credit Suisse raised their price target on shares of Tiffany & Co. from $104.00 to $112.00 in a research note on Thursday, August 28th. They now have an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $101.80.
Tiffany & Co (NYSE:TIF) is a holding company that operates through its subsidiary companies.
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