International Value Advisers LLC lowered its stake in shares of Tiffany & Co. (NYSE:TIF) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 373,263 shares of the specialty retailer’s stock after selling 11,024 shares during the period. Tiffany & Co. accounts for about 1.3% of International Value Advisers LLC’s investment portfolio, making the stock its 22nd biggest holding. International Value Advisers LLC owned approximately 0.30% of Tiffany & Co. worth $48,140,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Tiffany & Co. by 5.8% during the 3rd quarter. BlackRock Inc. now owns 8,900,821 shares of the specialty retailer’s stock valued at $1,147,940,000 after purchasing an additional 484,549 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Tiffany & Co. by 0.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,624,691 shares of the specialty retailer’s stock valued at $345,410,000 after purchasing an additional 10,591 shares during the last quarter. FMR LLC lifted its holdings in shares of Tiffany & Co. by 0.4% during the 2nd quarter. FMR LLC now owns 2,426,009 shares of the specialty retailer’s stock valued at $319,263,000 after purchasing an additional 9,132 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Tiffany & Co. by 81.2% during the 2nd quarter. Millennium Management LLC now owns 1,955,023 shares of the specialty retailer’s stock valued at $257,281,000 after purchasing an additional 876,176 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tiffany & Co. by 1.7% during the 2nd quarter. Northern Trust Corp now owns 1,392,475 shares of the specialty retailer’s stock valued at $183,249,000 after purchasing an additional 22,714 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.
Several analysts have recently commented on TIF shares. Zacks Investment Research lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Credit Suisse Group increased their price objective on Tiffany & Co. from $142.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, August 29th. ValuEngine lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Oppenheimer lowered Tiffany & Co. from an “outperform” rating to a “market perform” rating and set a $145.00 price objective for the company. in a report on Friday, August 10th. Finally, Royal Bank of Canada increased their price objective on Tiffany & Co. to $132.00 and gave the company a “sector perform” rating in a report on Wednesday, August 29th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $131.75.
Tiffany & Co. (NYSE:TIF) last issued its earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.16. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. Tiffany & Co. had a return on equity of 18.67% and a net margin of 10.16%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. Analysts forecast that Tiffany & Co. will post 4.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Thursday, December 20th will be paid a $0.55 dividend. The ex-dividend date is Wednesday, December 19th. This represents a $2.20 dividend on an annualized basis and a yield of 2.15%. Tiffany & Co.’s dividend payout ratio (DPR) is 53.27%.
In other Tiffany & Co. news, Director Lawrence K. Fish sold 7,000 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $129.40, for a total transaction of $905,800.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Francesco Trapani purchased 15,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were bought at an average cost of $122.96 per share, for a total transaction of $1,844,400.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 60,000 shares of company stock valued at $7,435,050 and sold 22,148 shares valued at $2,839,461. Company insiders own 1.30% of the company’s stock.
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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