PNC Financial Services Group Inc. trimmed its holdings in shares of Tiffany & Co. (NYSE:TIF) by 39.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,336 shares of the specialty retailer’s stock after selling 14,750 shares during the period. PNC Financial Services Group Inc.’s holdings in Tiffany & Co. were worth $2,880,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP lifted 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 purchasing an additional 337,425 shares during the last quarter. Castleark Management LLC purchased a new position in shares of Tiffany & Co. during the second quarter valued at approximately $16,904,000. Intact Investment Management Inc. purchased a new position in shares of Tiffany & Co. during the third quarter valued at approximately $245,000. Nomura Asset Management Co. Ltd. lifted 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 purchasing an additional 9,118 shares during the last quarter. Finally, Sentry Investment Management LLC lifted its holdings in shares of Tiffany & Co. by 13.7% during the third quarter. Sentry Investment Management LLC now owns 38,542 shares of the specialty retailer’s stock valued at $4,971,000 after purchasing an additional 4,639 shares during the last quarter. Hedge funds and other institutional investors own 79.60% of the company’s stock.
Shares of TIF opened at $86.02 on Friday. The company has a market cap of $11.08 billion, a P/E ratio of 20.83, a PEG ratio of 1.66 and a beta of 1.72. The company has a quick ratio of 1.84, a current ratio of 5.86 and a debt-to-equity ratio of 0.29. Tiffany & Co. has a twelve month low of $85.98 and a twelve month high of $141.64.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings results on Wednesday, November 28th. The specialty retailer reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tiffany & Co. had a net margin of 9.96% and a return on equity of 18.71%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. On average, sell-side analysts anticipate that Tiffany & Co. will post 4.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Thursday, December 20th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, December 19th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 53.27%.
In other Tiffany & Co. news, Director Lawrence K. Fish sold 7,000 shares of Tiffany & Co. 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 at the SEC website. Also, Director William A. Shutzer sold 250 shares of Tiffany & Co. stock in a transaction that occurred on Monday, September 17th. The stock was 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. In the last ninety days, insiders sold 22,148 shares of company stock valued at $2,839,461. 1.30% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on TIF shares. Oppenheimer lowered shares of Tiffany & Co. from an “outperform” rating to a “market perform” rating and set a $145.00 target price for the company. in a report on Friday, August 10th. Zacks Investment Research lowered shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Bank of America lowered shares of Tiffany & Co. from a “buy” rating to a “neutral” rating and set a $140.00 target price for the company. in a report on Wednesday, August 22nd. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating and set a $160.00 target price on shares of Tiffany & Co. in a report on Tuesday, August 28th. Finally, Loop Capital set a $155.00 price target on shares of Tiffany & Co. and gave the company a “buy” rating in a research report on Tuesday, August 28th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Tiffany & Co. has a consensus rating of “Buy” and a consensus price target of $121.52.
Tiffany & Co. Company 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.
See Also: Return on Investment (ROI)
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