Welch & Forbes LLC lessened its stake in Tiffany & Co. (NYSE:TIF) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,313 shares of the specialty retailer’s stock after selling 14,933 shares during the period. Welch & Forbes LLC’s holdings in Tiffany & Co. were worth $4,453,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in TIF. AustralianSuper Pty Ltd purchased a new position in Tiffany & Co. in the 3rd quarter worth approximately $154,764,000. Jennison Associates LLC purchased a new position in Tiffany & Co. in the 3rd quarter worth approximately $150,778,000. Confluence Investment Management LLC purchased a new position in Tiffany & Co. in the 4th quarter worth approximately $39,789,000. BlackRock Inc. grew its stake in Tiffany & Co. by 5.8% in the 3rd quarter. BlackRock Inc. now owns 8,900,821 shares of the specialty retailer’s stock worth $1,147,940,000 after buying an additional 484,549 shares in the last quarter. Finally, Capital Growth Management LP purchased a new position in Tiffany & Co. in the 3rd quarter worth approximately $59,326,000. 80.47% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on TIF. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of Tiffany & Co. in a research note on Friday, January 18th. Loop Capital set a $110.00 price objective on shares of Tiffany & Co. and gave the stock a “buy” rating in a report on Wednesday, November 28th. ValuEngine upgraded shares of Tiffany & Co. from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Morgan Stanley lowered their price objective on shares of Tiffany & Co. from $126.00 to $96.00 and set an “equal weight” rating for the company in a report on Thursday, November 29th. Finally, Zacks Investment Research lowered shares of Tiffany & Co. from a “hold” rating to a “sell” rating in a report on Saturday, January 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $117.14.
Tiffany & Co. stock traded up $1.33 during mid-day trading on Tuesday, reaching $89.18. 16,667 shares of the company traded hands, compared to its average volume of 1,933,813. The company has a current ratio of 5.86, a quick ratio of 1.84 and a debt-to-equity ratio of 0.29. The company has a market cap of $10.94 billion, a P/E ratio of 21.85, a PEG ratio of 1.58 and a beta of 1.57. Tiffany & Co. has a 52-week low of $73.04 and a 52-week high of $141.64.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, November 28th. The specialty retailer reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The business had revenue of $1.01 billion for 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 company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. Analysts predict that Tiffany & Co. will post 4.67 EPS for the current fiscal year.
In other Tiffany & Co. news, SVP Andrew W. Hart sold 7,428 shares of the business’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $87.39, for a total transaction of $649,132.92. Following the transaction, the senior vice president now directly owns 19,024 shares of the company’s stock, valued at approximately $1,662,507.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.
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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