Principal Financial Group Inc. cut its position in shares of Tiffany & Co. (NYSE:TIF) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 160,601 shares of the company’s stock after selling 4,749 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Tiffany & Co. worth $9,739,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in TIF. Prudential PLC boosted its stake in shares of Tiffany & Co. by 22.6% in the first quarter. Prudential PLC now owns 310,221 shares of the company’s stock worth $22,764,000 after buying an additional 57,221 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tiffany & Co. by 6.1% in the first quarter. Geode Capital Management LLC now owns 946,234 shares of the company’s stock worth $69,293,000 after buying an additional 54,038 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Tiffany & Co. by 0.5% in the first quarter. Cleararc Capital Inc. now owns 2,730 shares of the company’s stock worth $200,000 after buying an additional 14 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Tiffany & Co. by 1.2% in the first quarter. Riverhead Capital Management LLC now owns 30,605 shares of the company’s stock worth $2,246,000 after buying an additional 359 shares during the period. Finally, Barr E S & Co. boosted its stake in shares of Tiffany & Co. by 5.1% in the first quarter. Barr E S & Co. now owns 209,149 shares of the company’s stock worth $15,347,000 after buying an additional 10,236 shares during the period. 85.65% of the stock is owned by institutional investors.
Tiffany & Co. (NYSE:TIF) opened at 72.65 on Friday. The stock has a 50 day moving average of $71.59 and a 200 day moving average of $67.16. Tiffany & Co. has a 52 week low of $56.99 and a 52 week high of $84.19. The company has a market cap of $9.07 billion, a PE ratio of 20.72 and a beta of 2.07.
Tiffany & Co. (NYSE:TIF) last announced its earnings results on Thursday, August 25th. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.12. The business earned $932 million during the quarter, compared to the consensus estimate of $931.37 million. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. Equities research analysts predict that Tiffany & Co. will post $3.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Tuesday, September 20th were issued a $0.45 dividend. The ex-dividend date was Friday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.48%. Tiffany & Co.’s dividend payout ratio is presently 51.28%.
A number of equities research analysts have recently issued reports on the stock. Mizuho upped their price objective on shares of Tiffany & Co. from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 29th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $76.00 price objective (up previously from $65.00) on shares of Tiffany & Co. in a research note on Sunday, August 28th. Nomura set a $76.00 price target on shares of Tiffany & Co. and gave the company a “buy” rating in a report on Monday, August 29th. Credit Suisse Group AG reiterated a “hold” rating and set a $60.00 price target on shares of Tiffany & Co. in a report on Friday, August 26th. Finally, Cowen and Company upped their price target on shares of Tiffany & Co. from $68.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $79.14.
In other Tiffany & Co. news, insider Jean-Marc Bellaiche sold 775 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $61.78, for a total value of $47,879.50. Following the completion of the transaction, the insider now directly owns 2,179 shares in the company, valued at $134,618.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Philippe Galtie sold 482 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $72.01, for a total transaction of $34,708.82. Following the completion of the transaction, the senior vice president now owns 670 shares of the company’s stock, valued at $48,246.70. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
About Tiffany & Co.
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. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO. retail stores. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other.
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