State of Alaska Department of Revenue increased its holdings in shares of Tiffany & Co. (NYSE:TIF) by 11.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,781 shares of the specialty retailer’s stock after acquiring an additional 4,278 shares during the quarter. State of Alaska Department of Revenue’s holdings in Tiffany & Co. were worth $5,257,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Qube Research & Technologies Ltd increased its holdings in shares of Tiffany & Co. by 174.2% during the 2nd 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 acquired a new position in shares of Tiffany & Co. during the 2nd quarter worth approximately $197,000. Impax Asset Management LLC acquired a new position in shares of Tiffany & Co. during the 2nd quarter worth approximately $206,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Tiffany & Co. by 266.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,629 shares of the specialty retailer’s stock worth $214,000 after acquiring an additional 1,184 shares during the last quarter. Finally, Legacy Advisors LLC acquired a new position in shares of Tiffany & Co. during the 2nd quarter worth approximately $214,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on TIF. Telsey Advisory Group upped their price objective on Tiffany & Co. from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, June 27th. Zacks Investment Research lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Goldman Sachs Group began coverage on Tiffany & Co. in a report on Monday, June 25th. They issued a “buy” rating and a $165.00 price objective on the stock. Edward Jones lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Finally, Loop Capital upped their price objective on Tiffany & Co. to $150.00 and gave the company a “buy” rating in a report on Monday, July 16th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Tiffany & Co. presently has an average rating of “Buy” and a consensus price target of $131.75.
NYSE:TIF opened at $112.84 on Friday. The firm has a market cap of $15.79 billion, a PE 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. has a fifty-two week low of $90.46 and a fifty-two week high of $141.64.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. Tiffany & Co. had a return on equity of 18.67% and a net margin of 10.16%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. On average, research analysts expect 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. Stockholders of record on Thursday, September 20th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, September 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. Tiffany & Co.’s payout ratio is 53.27%.
In other news, Director Lawrence K. Fish sold 7,000 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $129.40, for a total transaction of $905,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Francesco Trapani bought 40,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were bought at an average price of $124.25 per share, with a total value of $4,970,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 60,000 shares of company stock valued at $7,435,050 and have sold 22,148 shares valued at $2,839,461. Corporate insiders own 1.30% of the company’s stock.
About Tiffany & Co.
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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