Tiffany & Co. (TIF) Given a $102.00 Price Target at Cowen and Company
Tiffany & Co. (NYSE:TIF) has been assigned a $102.00 target price by stock analysts at Cowen and Company in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the specialty retailer’s stock. Cowen and Company’s price objective suggests a potential upside of 8.97% from the company’s current price.
Several other equities research analysts have also weighed in on the company. Bank of America Corporation reiterated a “buy” rating and issued a $110.00 price objective on shares of Tiffany & Co. in a research note on Wednesday, June 28th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Tiffany & Co. in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) lowered Tiffany & Co. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $106.00 to $94.00 in a research note on Friday, September 22nd. BidaskClub upgraded Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research lowered Tiffany & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $94.59.
Shares of Tiffany & Co. (NYSE TIF) traded down 0.87% on Wednesday, hitting $93.60. The stock had a trading volume of 822,464 shares. The firm’s 50-day moving average is $92.26 and its 200 day moving average is $91.87. Tiffany & Co. has a 1-year low of $71.86 and a 1-year high of $97.29. The stock has a market cap of $11.65 billion, a P/E ratio of 25.42 and a beta of 1.92.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $930.19 million. During the same period in the previous year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that Tiffany & Co. will post $3.97 EPS for the current year.
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In other news, major shareholder Qatar Investment Authority sold 4,400,000 shares of the stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Francesco Trapani purchased 35,000 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $89.34 per share, for a total transaction of $3,126,900.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 267,064 shares of company stock worth $23,789,094. Company insiders own 1.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Tiffany & Co. by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,229,111 shares of the specialty retailer’s stock valued at $1,147,947,000 after purchasing an additional 310,235 shares during the period. State Street Corp lifted its stake in shares of Tiffany & Co. by 0.3% in the 1st quarter. State Street Corp now owns 4,884,771 shares of the specialty retailer’s stock valued at $465,549,000 after purchasing an additional 12,498 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Tiffany & Co. by 2.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 4,140,990 shares of the specialty retailer’s stock valued at $388,715,000 after purchasing an additional 109,926 shares during the period. Investec Asset Management LTD lifted its stake in shares of Tiffany & Co. by 2.2% in the 2nd quarter. Investec Asset Management LTD now owns 2,098,510 shares of the specialty retailer’s stock valued at $196,987,000 after purchasing an additional 44,516 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Tiffany & Co. by 21.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,835,834 shares of the specialty retailer’s stock valued at $172,329,000 after purchasing an additional 318,238 shares during the period. 79.69% of the stock is currently owned by institutional investors.
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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