Douglass Winthrop Advisors LLC lowered its holdings in shares of Tiffany & Co. (NYSE:TIF) by 72.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,535 shares of the specialty retailer’s stock after selling 40,000 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Tiffany & Co. were worth $2,004,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Qube Research & Technologies Ltd raised its position in Tiffany & Co. by 174.2% during the second quarter. Qube Research & Technologies Ltd now owns 998 shares of the specialty retailer’s stock worth $131,000 after acquiring an additional 634 shares during the last quarter. Hall Laurie J Trustee purchased a new stake in shares of Tiffany & Co. during the second quarter worth about $197,000. Impax Asset Management LLC purchased a new stake in shares of Tiffany & Co. during the second quarter worth about $206,000. Legacy Advisors LLC purchased a new stake in shares of Tiffany & Co. during the second quarter worth about $214,000. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in shares of Tiffany & Co. by 266.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,629 shares of the specialty retailer’s stock worth $214,000 after buying an additional 1,184 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.
In related news, Director Lawrence K. Fish sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $129.40, for a total value of $905,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William A. Shutzer sold 250 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $126.29, for a total transaction of $31,572.50. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 60,000 shares of company stock valued at $7,435,050 and sold 22,148 shares valued at $2,839,461. 1.30% of the stock is currently owned by insiders.
TIF has been the subject of a number of recent research reports. UBS Group upgraded shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 12th. Credit Suisse Group lifted their price target on shares of Tiffany & Co. from $142.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Oppenheimer downgraded shares of Tiffany & Co. from an “outperform” rating to a “market perform” rating and set a $145.00 price target for the company. in a report on Friday, August 10th. Edward Jones downgraded shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Finally, Telsey Advisory Group lifted 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $131.75.
Tiffany & Co. stock opened at $112.84 on Friday. Tiffany & Co. has a 1 year low of $90.46 and a 1 year high of $141.64. The company has a market capitalization of $15.79 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.35 and a beta of 1.75. The company has a quick ratio of 2.09, a current ratio of 6.05 and a debt-to-equity ratio of 0.29.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. Tiffany & Co. had a net margin of 10.16% and a return on equity of 18.67%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. Tiffany & Co.’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts predict that Tiffany & Co. will post 4.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Thursday, September 20th were issued a $0.55 dividend. The ex-dividend date was Wednesday, September 19th. This represents a $2.20 dividend on an annualized basis and a yield of 1.95%. Tiffany & Co.’s payout ratio is 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.
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