Trexquant Investment LP Purchases New Stake in Tiffany & Co. (TIF)

Trexquant Investment LP purchased a new position in shares of Tiffany & Co. (NYSE:TIF) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,651 shares of the specialty retailer’s stock, valued at approximately $5,218,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TIF. BlackRock Inc. raised its stake in shares of Tiffany & Co. by 25.3% during the 1st quarter. BlackRock Inc. now owns 8,673,800 shares of the specialty retailer’s stock valued at $847,085,000 after buying an additional 1,750,051 shares during the last quarter. Millennium Management LLC raised its stake in shares of Tiffany & Co. by 619.2% during the 1st quarter. Millennium Management LLC now owns 1,078,847 shares of the specialty retailer’s stock valued at $105,360,000 after buying an additional 928,847 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Tiffany & Co. by 1.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 746,315 shares of the specialty retailer’s stock valued at $72,885,000 after buying an additional 7,063 shares during the last quarter. Fiera Capital Corp raised its stake in shares of Tiffany & Co. by 0.4% during the 2nd quarter. Fiera Capital Corp now owns 694,301 shares of the specialty retailer’s stock valued at $91,370,000 after buying an additional 2,883 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Tiffany & Co. by 15.5% during the 2nd quarter. TD Asset Management Inc. now owns 583,412 shares of the specialty retailer’s stock valued at $76,777,000 after buying an additional 78,168 shares during the last quarter. 81.33% of the stock is owned by institutional investors.

Several equities analysts recently weighed in on TIF shares. ValuEngine upgraded Tiffany & Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, May 23rd. Loop Capital lifted their price target on Tiffany & Co. from $113.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, May 23rd. Citigroup lifted their price target on Tiffany & Co. to $150.00 and gave the company a “buy” rating in a research note on Thursday, May 24th. Goldman Sachs Group started coverage on Tiffany & Co. in a research note on Monday, June 25th. They issued a “buy” rating and a $165.00 price target for the company. Finally, Morgan Stanley lifted their price target on Tiffany & Co. from $94.00 to $126.00 and gave the company an “equal weight” rating in a research note on Thursday, May 24th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Tiffany & Co. currently has an average rating of “Buy” and an average target price of $126.80.

In other Tiffany & Co. news, insider Pamela H. Cloud sold 55,402 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $131.50, for a total transaction of $7,285,363.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leigh M. Harlan sold 4,046 shares of the business’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $129.01, for a total value of $521,974.46. Following the sale, the insider now owns 9,916 shares of the company’s stock, valued at $1,279,263.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,407 shares of company stock valued at $9,389,318. 1.30% of the stock is owned by company insiders.

NYSE:TIF traded up $2.45 during trading hours on Thursday, hitting $128.11. 14,823 shares of the stock were exchanged, compared to its average volume of 1,617,277. Tiffany & Co. has a 52-week low of $86.15 and a 52-week high of $141.64. The company has a current ratio of 5.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.27. The firm has a market cap of $16.69 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 2.43 and a beta of 1.79.

Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings data on Wednesday, May 23rd. The specialty retailer reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.31. Tiffany & Co. had a return on equity of 17.61% and a net margin of 9.75%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $959.20 million. During the same period in the previous year, the business earned $0.74 EPS. Tiffany & Co.’s quarterly revenue was up 14.9% on a year-over-year basis. research analysts forecast that Tiffany & Co. will post 4.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.72%. Tiffany & Co.’s dividend payout ratio (DPR) is currently 53.27%.

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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Institutional Ownership by Quarter for Tiffany & Co. (NYSE:TIF)

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