Texas Permanent School Fund lowered its stake in Tiffany & Co. (NYSE:TIF) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,120 shares of the specialty retailer’s stock after selling 1,152 shares during the period. Texas Permanent School Fund’s holdings in Tiffany & Co. were worth $2,827,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Reik & CO. LLC increased its stake in shares of Tiffany & Co. by 0.7% in the second quarter. Reik & CO. LLC now owns 290,294 shares of the specialty retailer’s stock valued at $27,249,000 after buying an additional 2,000 shares during the period. Barnett & Company Inc. increased its stake in Tiffany & Co. by 6.3% in the second quarter. Barnett & Company Inc. now owns 13,517 shares of the specialty retailer’s stock worth $1,269,000 after buying an additional 800 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Tiffany & Co. during the second quarter worth $1,408,000. Speece Thorson Capital Group Inc. increased its stake in Tiffany & Co. by 0.5% in the second quarter. Speece Thorson Capital Group Inc. now owns 109,960 shares of the specialty retailer’s stock worth $10,322,000 after buying an additional 512 shares during the last quarter. Finally, Mcrae Capital Management Inc. increased its stake in Tiffany & Co. by 4.0% in the second quarter. Mcrae Capital Management Inc. now owns 5,150 shares of the specialty retailer’s stock worth $483,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 81.31% of the company’s stock.
Tiffany & Co. (NYSE:TIF) traded down 0.38% during mid-day trading on Friday, hitting $88.03. 1,289,751 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $92.40 and its 200-day moving average price is $90.82. The stock has a market cap of $10.97 billion, a PE ratio of 24.44 and a beta of 1.92. Tiffany & Co. has a 12 month low of $66.19 and a 12 month high of $97.29.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings results on Wednesday, May 24th. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $899.60 million for the quarter, compared to analyst estimates of $915.48 million. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.91%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Equities analysts expect that Tiffany & Co. will post $3.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Wednesday, September 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, September 19th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 55.56%.
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TIF has been the subject of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $110.00 price target on shares of Tiffany & Co. in a research report on Tuesday, May 2nd. Bank of America Corporation reiterated a “buy” rating and issued a $110.00 price target on shares of Tiffany & Co. in a research report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) upgraded shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $82.00 to $107.00 in a research report on Friday, May 12th. Cowen and Company reiterated an “outperform” rating and issued a $107.00 price target on shares of Tiffany & Co. in a research report on Tuesday, May 23rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $88.00 price target (down from $93.00) on shares of Tiffany & Co. in a research report on Thursday, May 25th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $92.81.
Tiffany & Co. Company Profile
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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