Credit Agricole SA initiated coverage on shares of Tiffany & Co. (NYSE:TIF) in a research report released on Wednesday. The brokerage issued an outperform rating and a $80.00 price objective on the stock.
Several other research firms have also issued reports on TIF. Morgan Stanley reissued a hold rating on shares of Tiffany & Co. in a research report on Monday, August 15th. RBC Capital Markets reissued a sector perform rating and issued a $76.00 price target (up previously from $65.00) on shares of Tiffany & Co. in a research report 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 research report on Monday, August 29th. Mizuho boosted their price target on shares of Tiffany & Co. from $72.00 to $82.00 and gave the company a buy rating in a research report on Tuesday, August 23rd. Finally, Cowen and Company reissued a hold rating and issued a $68.00 price target on shares of Tiffany & Co. in a research report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $79.14.
Tiffany & Co. (NYSE:TIF) opened at 71.71 on Wednesday. Tiffany & Co. has a 52 week low of $56.99 and a 52 week high of $84.19. The company has a 50-day moving average of $70.51 and a 200 day moving average of $66.98. The company has a market cap of $8.96 billion, a P/E ratio of 20.45 and a beta of 2.07.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings results on Thursday, August 25th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The company had revenue of $932 million for the quarter, compared to analyst estimates of $931.37 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities analysts forecast that Tiffany & Co. will post $3.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Tuesday, September 20th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, September 16th. Tiffany & Co.’s dividend payout ratio is presently 51.28%.
In other news, insider Jean-Marc Bellaiche sold 775 shares of the company’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 sale, the insider now directly owns 2,179 shares of the company’s stock, valued at approximately $134,618.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Philippe Galtie sold 482 shares of the company’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 sale, the senior vice president now directly owns 670 shares in the company, valued at $48,246.70. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Tiffany & Co. during the second quarter worth $103,000. Advisory Services Network LLC increased its stake in shares of Tiffany & Co. by 13.6% in the second quarter. Advisory Services Network LLC now owns 1,879 shares of the company’s stock valued at $114,000 after buying an additional 225 shares during the period. Pacer Advisors Inc. increased its stake in shares of Tiffany & Co. by 9.9% in the second quarter. Pacer Advisors Inc. now owns 2,051 shares of the company’s stock valued at $124,000 after buying an additional 184 shares during the period. Signaturefd LLC increased its stake in shares of Tiffany & Co. by 6,690.6% in the second quarter. Signaturefd LLC now owns 2,173 shares of the company’s stock valued at $132,000 after buying an additional 2,141 shares during the period. Finally, Winslow Evans & Crocker Inc. increased its stake in shares of Tiffany & Co. by 397.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,654 shares of the company’s stock valued at $161,000 after buying an additional 2,121 shares during the period. 85.66% of the stock is currently owned by hedge funds and other institutional investors.
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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