Tiffany & Co. (TIF) Stake Lessened by Laurel Grove Capital LLC

Laurel Grove Capital LLC lowered its stake in shares of Tiffany & Co. (NYSE:TIF) by 8.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,300 shares of the specialty retailer’s stock after selling 1,000 shares during the quarter. Laurel Grove Capital LLC’s holdings in Tiffany & Co. were worth $1,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Castleark Management LLC acquired a new position in shares of Tiffany & Co. during the second quarter valued at about $16,904,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Tiffany & Co. by 18.2% during the second quarter. Nomura Asset Management Co. Ltd. now owns 59,208 shares of the specialty retailer’s stock valued at $7,792,000 after acquiring an additional 9,118 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Tiffany & Co. by 4,305.5% during the second quarter. Marshall Wace LLP now owns 345,262 shares of the specialty retailer’s stock valued at $45,436,000 after acquiring an additional 337,425 shares in the last quarter. Morgan Stanley increased its holdings in shares of Tiffany & Co. by 49.4% during the second quarter. Morgan Stanley now owns 1,076,833 shares of the specialty retailer’s stock valued at $141,711,000 after acquiring an additional 355,896 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Tiffany & Co. by 279.8% during the second quarter. Point72 Hong Kong Ltd now owns 2,488 shares of the specialty retailer’s stock valued at $327,000 after acquiring an additional 1,833 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

In related news, Director Francesco Trapani acquired 40,000 shares of the stock in a transaction on Friday, September 7th. The shares were acquired at an average price of $124.25 per share, for a total transaction of $4,970,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director William A. Shutzer sold 250 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $126.29, for a total value of $31,572.50. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 60,000 shares of company stock worth $7,435,050 and sold 22,148 shares worth $2,839,461. Corporate insiders own 1.30% of the company’s stock.

Several equities analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Tiffany & Co. in a report on Thursday, June 21st. They set a “neutral” rating and a $138.00 price objective on the stock. Edward Jones downgraded shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Oppenheimer downgraded shares of Tiffany & Co. from an “outperform” rating to a “market perform” rating and set a $145.00 price target on the stock. in a report on Friday, August 10th. Goldman Sachs Group assumed coverage on shares of Tiffany & Co. in a report on Monday, June 25th. They issued a “buy” rating and a $165.00 price target on the stock. Finally, Telsey Advisory Group increased their price target on shares of Tiffany & Co. from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, June 27th. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $131.75.

Tiffany & Co. stock traded up $1.48 during mid-day trading on Friday, hitting $112.93. The company had a trading volume of 164,458 shares, compared to its average volume of 1,716,132. The company has a current ratio of 6.05, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. Tiffany & Co. has a 12-month low of $90.46 and a 12-month high of $141.64. The firm has a market cap of $15.79 billion, a PE ratio of 27.56, a P/E/G ratio of 2.35 and a beta of 1.75.

Tiffany & Co. (NYSE:TIF) last released its quarterly earnings data on Tuesday, August 28th. The specialty retailer reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.16. Tiffany & Co. had a return on equity of 18.67% and a net margin of 10.16%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that Tiffany & Co. will post 4.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th were given a $0.55 dividend. The ex-dividend date was Wednesday, September 19th. This represents a $2.20 annualized dividend and a yield of 1.95%. Tiffany & Co.’s dividend payout ratio is presently 53.27%.

Tiffany & Co. Profile

Tiffany & Co, through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.

Further Reading: What Does Beta Mean In Stock Selection

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Institutional Ownership by Quarter for Tiffany & Co. (NYSE:TIF)

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