UBS Asset Management Americas Inc. Purchases 6,894 Shares of Tiffany & Co. (TIF)
UBS Asset Management Americas Inc. boosted its stake in shares of Tiffany & Co. (NYSE:TIF) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,582 shares of the company’s stock after buying an additional 6,894 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.24% of Tiffany & Co. worth $18,228,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TIF. Sprucegrove Investment Management Ltd. increased its position in Tiffany & Co. by 137.0% in the second quarter. Sprucegrove Investment Management Ltd. now owns 274,500 shares of the company’s stock valued at $16,646,000 after buying an additional 158,700 shares in the last quarter. Wellington Management Group LLP increased its position in Tiffany & Co. by 4.4% in the first quarter. Wellington Management Group LLP now owns 1,449,171 shares of the company’s stock valued at $106,340,000 after buying an additional 61,516 shares in the last quarter. Legal & General Group Plc increased its position in Tiffany & Co. by 0.4% in the first quarter. Legal & General Group Plc now owns 528,755 shares of the company’s stock valued at $38,799,000 after buying an additional 2,109 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Tiffany & Co. during the first quarter valued at approximately $28,486,000. Finally, Geode Capital Management LLC increased its position in Tiffany & Co. by 6.1% in the first quarter. Geode Capital Management LLC now owns 946,234 shares of the company’s stock valued at $69,293,000 after buying an additional 54,038 shares in the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Tiffany & Co. (NYSE:TIF) traded down 0.21% during midday trading on Tuesday, hitting $71.62. The stock had a trading volume of 777,526 shares. The stock has a 50 day moving average of $68.13 and a 200-day moving average of $66.88. Tiffany & Co. has a one year low of $56.99 and a one year high of $84.19. The company has a market cap of $8.94 billion, a P/E ratio of 20.43 and a beta of 2.06.
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 Zacks’ consensus estimate of $0.72 by $0.12. Tiffany & Co. had a return on equity of 15.90% and a net margin of 11.26%. The firm earned $932 million during the quarter, compared to the consensus estimate of $931.37 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. Analysts forecast that Tiffany & Co. will post $3.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Tuesday, September 20th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, September 16th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 51.28%.
TIF has been the subject of several recent research reports. Deutsche Bank AG reissued a “hold” rating and issued a $73.00 price objective on shares of Tiffany & Co. in a research note on Wednesday, August 24th. Mizuho upped their target price on Tiffany & Co. from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 29th. Royal Bank Of Canada upped their target price on Tiffany & Co. from $65.00 to $76.00 and gave the company a “sector perform” rating in a report on Friday, August 26th. Jefferies Group restated a “buy” rating on shares of Tiffany & Co. in a report on Thursday, July 14th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $69.00 target price (down from $71.00) on shares of Tiffany & Co. in a report on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $79.02.
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 stock was sold at an average price of $61.78, for a total transaction of $47,879.50. Following the completion of the sale, the insider now owns 2,179 shares of the company’s stock, valued at $134,618.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.
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. 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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