PNC Financial Services Group Inc. lessened its position in Tiffany & Co. (NYSE:TIF) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,793 shares of the specialty retailer’s stock after selling 1,129 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Tiffany & Co. were worth $2,300,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its holdings in shares of Tiffany & Co. by 1.9% during the third quarter. Vanguard Group Inc now owns 12,569,628 shares of the specialty retailer’s stock worth $1,621,105,000 after purchasing an additional 239,164 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Tiffany & Co. by 33.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 4,754 shares of the specialty retailer’s stock worth $383,000 after purchasing an additional 1,196 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of Tiffany & Co. by 92.8% during the fourth quarter. Dupont Capital Management Corp now owns 1,943 shares of the specialty retailer’s stock worth $156,000 after purchasing an additional 935 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Tiffany & Co. by 151.1% during the fourth quarter. TD Asset Management Inc. now owns 79,564 shares of the specialty retailer’s stock worth $6,406,000 after purchasing an additional 47,876 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Tiffany & Co. by 9.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,956 shares of the specialty retailer’s stock worth $399,000 after purchasing an additional 433 shares during the period. Institutional investors own 87.97% of the company’s stock.
NYSE TIF opened at $91.16 on Friday. The company has a quick ratio of 1.36, a current ratio of 4.17 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.70 and a beta of 1.60. Tiffany & Co. has a 12-month low of $73.04 and a 12-month high of $141.64.
Tiffany & Co. (NYSE:TIF) last posted its earnings results on Tuesday, June 4th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Tiffany & Co. had a net margin of 12.90% and a return on equity of 18.11%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 earnings per share. As a group, analysts anticipate that Tiffany & Co. will post 4.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Thursday, June 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Tiffany & Co.’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, June 19th. Tiffany & Co.’s payout ratio is presently 47.62%.
In other news, Director Abby F. Kohnstamm sold 11,912 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $90.70, for a total value of $1,080,418.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew W. Hart sold 2,665 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $90.53, for a total transaction of $241,262.45. Following the completion of the sale, the insider now owns 13,522 shares of the company’s stock, valued at $1,224,146.66. The disclosure for this sale can be found here. Insiders sold 22,705 shares of company stock valued at $2,163,579 over the last 90 days. 1.30% of the stock is owned by corporate insiders.
Several analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Tiffany & Co. in a report on Tuesday, April 16th. They set an “outperform” rating and a $125.00 price target for the company. Loop Capital upgraded shares of Tiffany & Co. to a “buy” rating and set a $125.00 price target for the company in a report on Thursday, April 18th. Zacks Investment Research upgraded shares of Tiffany & Co. from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. UBS Group raised their price target on shares of Tiffany & Co. to $103.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. Finally, Credit Suisse Group lifted their target price on shares of Tiffany & Co. from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $116.44.
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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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