Tiffany & Co. (TIF) Earns Hold Rating from KeyCorp
Tiffany & Co. (NYSE:TIF)‘s stock had its “hold” rating reissued by KeyCorp in a research report issued to clients and investors on Wednesday.
A number of other analysts have also commented on TIF. BidaskClub lowered Tiffany & Co. from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC set a $110.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a report on Wednesday, August 16th. Zacks Investment Research upgraded Tiffany & Co. from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, August 14th. HSBC Holdings plc upgraded Tiffany & Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $90.00 to $110.00 in a report on Monday, October 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tiffany & Co. in a report on Friday, August 25th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $94.91.
Shares of Tiffany & Co. (NYSE TIF) traded down 0.99% during midday trading on Wednesday, reaching $92.35. The company had a trading volume of 921,220 shares. The firm has a market cap of $11.50 billion, a P/E ratio of 25.08 and a beta of 1.92. Tiffany & Co. has a 52-week low of $71.46 and a 52-week high of $97.29. The company’s 50-day moving average is $91.44 and its 200-day moving average is $91.93.
Tiffany & Co. (NYSE:TIF) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The firm had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $930.19 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Tiffany & Co. will post $3.97 EPS for the current fiscal year.
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In related news, Director Francesco Trapani purchased 48,936 shares of Tiffany & Co. stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average price of $89.16 per share, with a total value of $4,363,133.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $94.16, for a total value of $414,304,000.00. The disclosure for this sale can be found here. Insiders bought 267,064 shares of company stock worth $23,789,094 in the last ninety days. 1.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Tiffany & Co. by 2.6% during the second quarter. Vanguard Group Inc. now owns 12,229,111 shares of the specialty retailer’s stock worth $1,147,947,000 after purchasing an additional 310,235 shares during the last quarter. BlackRock Inc. lifted its stake in Tiffany & Co. by 2,886.2% during the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock worth $665,271,000 after purchasing an additional 6,747,028 shares during the last quarter. State Street Corp lifted its stake in Tiffany & Co. by 0.3% during the first quarter. State Street Corp now owns 4,884,771 shares of the specialty retailer’s stock worth $465,549,000 after purchasing an additional 12,498 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Tiffany & Co. by 2.7% during the second quarter. First Eagle Investment Management LLC now owns 4,140,990 shares of the specialty retailer’s stock worth $388,715,000 after purchasing an additional 109,926 shares during the last quarter. Finally, FMR LLC lifted its stake in Tiffany & Co. by 0.7% during the first quarter. FMR LLC now owns 2,463,909 shares of the specialty retailer’s stock worth $234,810,000 after purchasing an additional 17,572 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.
About Tiffany & Co.
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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