Oppenheimer upgraded shares of Tiffany & Co. (NYSE:TIF) from a market perform rating to an outperform rating in a research report released on Wednesday, September 12th, Marketbeat reports. They currently have $145.00 price target on the specialty retailer’s stock, down from their previous price target of $152.00. Oppenheimer also issued estimates for Tiffany & Co.’s FY2019 earnings at $4.80 EPS.
A number of other brokerages also recently issued reports on TIF. Telsey Advisory Group upped their price objective on shares of Tiffany & Co. from $140.00 to $150.00 and gave the stock an outperform rating in a research report on Wednesday, June 27th. Credit Suisse Group upped their price objective on shares of Tiffany & Co. from $120.00 to $142.00 and gave the stock an outperform rating in a research report on Thursday, May 24th. Goldman Sachs Group assumed coverage on shares of Tiffany & Co. in a research report on Monday, June 25th. They issued a buy rating and a $165.00 price objective for the company. Royal Bank of Canada set a $126.00 target price on shares of Tiffany & Co. and gave the company a hold rating in a research report on Friday, May 25th. They noted that the move was a valuation call. Finally, Edward Jones downgraded shares of Tiffany & Co. from a buy rating to a hold rating in a research report on Thursday, June 21st. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $131.75.
TIF traded down $0.12 during trading on Wednesday, reaching $121.88. 1,862,000 shares of the stock traded hands, compared to its average volume of 1,694,408. The company has a current ratio of 6.05, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $15.79 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 2.35 and a beta of 1.75. Tiffany & Co. has a 12 month low of $90.46 and a 12 month high of $141.64.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Tuesday, August 28th. The specialty retailer reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.16. Tiffany & Co. had a net margin of 10.16% and a return on equity of 18.67%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts predict that Tiffany & Co. will post 4.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.81%. The ex-dividend date is Wednesday, September 19th. Tiffany & Co.’s dividend payout ratio is presently 53.27%.
In related news, Director Francesco Trapani acquired 40,000 shares of the stock in a transaction dated Friday, September 7th. The shares were purchased at an average price of $124.25 per share, for a total transaction of $4,970,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William A. Shutzer sold 250 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $126.29, for a total transaction of $31,572.50. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 60,000 shares of company stock worth $7,435,050 and have sold 22,148 shares worth $2,839,461. Company insiders own 1.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of TIF. Mackay Shields LLC purchased a new position in Tiffany & Co. in the 1st quarter worth $1,678,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Tiffany & Co. by 1.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 38,290 shares of the specialty retailer’s stock worth $3,739,000 after purchasing an additional 515 shares during the period. Schwab Charles Investment Management Inc. raised its position in Tiffany & Co. by 4.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 388,423 shares of the specialty retailer’s stock worth $37,934,000 after purchasing an additional 16,612 shares during the period. Aperio Group LLC raised its position in Tiffany & Co. by 1.5% in the 1st quarter. Aperio Group LLC now owns 53,004 shares of the specialty retailer’s stock worth $5,176,000 after purchasing an additional 771 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Tiffany & Co. by 34.7% in the 1st quarter. Neuberger Berman Group LLC now owns 416,161 shares of the specialty retailer’s stock worth $40,642,000 after purchasing an additional 107,118 shares during the period. Hedge funds and other institutional investors own 79.69% 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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