Alliancebernstein L.P. boosted its position in shares of Tiffany & Co. (NYSE:TIF) by 10.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 701,123 shares of the specialty retailer’s stock after buying an additional 67,707 shares during the quarter. Alliancebernstein L.P. owned approximately 0.57% of Tiffany & Co. worth $90,424,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Tiffany & Co. during the 3rd quarter valued at $103,000. Qube Research & Technologies Ltd raised its holdings in Tiffany & Co. by 174.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 998 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 634 shares during the last quarter. Columbia Asset Management bought a new stake in Tiffany & Co. during the 3rd quarter valued at $132,000. Hall Laurie J Trustee bought a new stake in Tiffany & Co. during the 2nd quarter valued at $197,000. Finally, Impax Asset Management LLC bought a new stake in Tiffany & Co. during the 2nd quarter valued at $206,000. Institutional investors own 81.24% of the company’s stock.
A number of research firms recently commented on TIF. ValuEngine lowered shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group upped their price objective on shares of Tiffany & Co. from $142.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Zacks Investment Research lowered shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Oppenheimer upgraded shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $152.00 to $145.00 in a report on Wednesday, September 12th. Finally, Bank of America lowered shares of Tiffany & Co. from a “buy” rating to a “neutral” rating and set a $140.00 price objective for the company. in a report on Wednesday, August 22nd. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $131.75.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.16. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Tiffany & Co. had a net margin of 10.16% and a return on equity of 18.67%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. On average, analysts forecast that Tiffany & Co. will post 4.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders 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 dividend yield of 2.15%. The ex-dividend date is Wednesday, December 19th. Tiffany & Co.’s dividend payout ratio is presently 53.27%.
In other news, Director Lawrence K. Fish sold 7,000 shares of the company’s stock in a transaction dated 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 SEC, which is available through this link. Also, Director Francesco Trapani bought 40,000 shares of Tiffany & Co. stock in a transaction dated Friday, September 7th. The stock was acquired at an average cost of $124.25 per share, for a total transaction of $4,970,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 60,000 shares of company stock worth $7,435,050 and sold 22,148 shares worth $2,839,461. 1.30% of the stock is owned by corporate insiders.
About Tiffany & Co.
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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