Tiffany & Co. (NYSE:TIF) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 11,841,400 shares, a growth of 5.6% from the May 30th total of 11,217,300 shares. Based on an average daily trading volume, of 1,600,000 shares, the short-interest ratio is presently 7.4 days. Approximately 9.8% of the shares of the stock are sold short.
In related news, Director Francesco Trapani sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $92.10, for a total value of $23,025,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew W. Hart sold 2,665 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $90.53, for a total transaction of $241,262.45. Following the completion of the sale, the insider now owns 13,522 shares of the company’s stock, valued at approximately $1,224,146.66. The disclosure for this sale can be found here. Insiders have sold 264,577 shares of company stock valued at $24,346,681 over the last 90 days. 1.30% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its position in Tiffany & Co. by 193.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 13,605 shares of the specialty retailer’s stock worth $1,095,000 after buying an additional 8,963 shares in the last quarter. Baltimore Capital Management Inc. bought a new position in shares of Tiffany & Co. during the 1st quarter valued at $610,000. Weik Capital Management raised its holdings in shares of Tiffany & Co. by 0.7% during the 1st quarter. Weik Capital Management now owns 37,805 shares of the specialty retailer’s stock valued at $3,990,000 after purchasing an additional 250 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Tiffany & Co. by 112.1% during the 4th quarter. Deutsche Bank AG now owns 605,376 shares of the specialty retailer’s stock valued at $48,734,000 after purchasing an additional 319,941 shares in the last quarter. Finally, CX Institutional bought a new position in shares of Tiffany & Co. during the 1st quarter valued at $118,000. Institutional investors own 87.80% of the company’s stock.
TIF stock opened at $94.03 on Wednesday. Tiffany & Co. has a 12-month low of $73.04 and a 12-month high of $141.64. The company has a current ratio of 4.17, a quick ratio of 1.36 and a debt-to-equity ratio of 0.58. The stock has a market cap of $11.49 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.76 and a beta of 1.56. The business has a 50 day moving average of $92.41.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Tuesday, June 4th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. Tiffany & Co. had a net margin of 12.90% and a return on equity of 18.11%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that Tiffany & Co. will post 4.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Thursday, June 20th were given a $0.58 dividend. This is an increase from Tiffany & Co.’s previous quarterly dividend of $0.55. The ex-dividend date was Wednesday, June 19th. This represents a $2.32 dividend on an annualized basis and a yield of 2.47%. Tiffany & Co.’s dividend payout ratio is presently 50.22%.
Several brokerages recently commented on TIF. Loop Capital began coverage on shares of SpartanNash in a research report on Tuesday, June 25th. They issued a “buy” rating and a $15.00 price target for the company. Credit Suisse Group set a $155.00 price target on shares of Allergan and gave the company a “hold” rating in a research report on Monday, March 25th. UBS Group set a $210.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a research report on Tuesday, June 11th. Bank of America upped their price target on shares of Altria Group from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Sanford C. Bernstein began coverage on shares of Farfetch in a research report on Tuesday, April 16th. They issued an “underperform” rating and a $23.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $112.21.
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 watches, home and accessories products, eyewear, and fragrances; and wholesales diamonds and earnings.
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