The Manufacturers Life Insurance Company raised its position in Tiffany & Co. (NYSE:TIF) by 17.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,687 shares of the specialty retailer’s stock after purchasing an additional 17,889 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of Tiffany & Co. worth $15,500,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Perennial Advisors LLC acquired a new stake in shares of Tiffany & Co. in the first quarter worth about $118,000. APG Asset Management N.V. lifted its position in shares of Tiffany & Co. by 46.5% in the first quarter. APG Asset Management N.V. now owns 152,664 shares of the specialty retailer’s stock worth $19,770,000 after buying an additional 48,434 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Tiffany & Co. in the first quarter worth about $212,000. Pentwater Capital Management LP lifted its position in shares of Tiffany & Co. by 144.4% in the first quarter. Pentwater Capital Management LP now owns 2,021,400 shares of the specialty retailer’s stock worth $261,771,000 after buying an additional 1,194,200 shares during the last quarter. Finally, Omni Partners LLP acquired a new stake in shares of Tiffany & Co. in the first quarter worth about $82,324,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
A number of brokerages have weighed in on TIF. Needham & Company LLC began coverage on Tiffany & Co. in a research report on Friday, June 19th. They issued a “hold” rating for the company. Zacks Investment Research raised Tiffany & Co. from a “sell” rating to a “hold” rating and set a $133.00 price target for the company in a research report on Monday, March 23rd. TheStreet cut Tiffany & Co. from a “b” rating to a “c” rating in a research report on Tuesday, June 9th. Credit Suisse Group reissued a “hold” rating and set a $135.00 price objective on shares of Tiffany & Co. in a research report on Wednesday, June 3rd. Finally, William Blair reissued a “hold” rating on shares of Tiffany & Co. in a research report on Monday, March 23rd. Nineteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $122.76.
TIF stock opened at $119.57 on Tuesday. Tiffany & Co. has a 1-year low of $78.60 and a 1-year high of $134.42. The firm has a market cap of $14.51 billion, a P/E ratio of 39.33, a P/E/G ratio of 4.85 and a beta of 1.01. The business’s 50 day moving average is $123.34 and its 200-day moving average is $129.21. The company has a current ratio of 3.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.58.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings results on Tuesday, June 9th. The specialty retailer reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.74). The business had revenue of $555.50 million for the quarter, compared to the consensus estimate of $653.97 million. Tiffany & Co. had a return on equity of 11.48% and a net margin of 8.83%. The firm’s revenue was down 44.6% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. Sell-side analysts forecast that Tiffany & Co. will post 2.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 22nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 19th. This represents a $2.32 dividend on an annualized basis and a yield of 1.94%. Tiffany & Co.’s dividend payout ratio (DPR) is presently 50.54%.
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 watches, home and accessories products, eyewear, and fragrances; and wholesales diamonds and earnings.
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