Tiffany & Co. (TIF) Position Increased by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP increased its position in shares of Tiffany & Co. (NYSE:TIF) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 631,393 shares of the company’s stock after buying an additional 62,391 shares during the period. Dimensional Fund Advisors LP owned about 0.50% of Tiffany & Co. worth $38,286,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Eagle Investment Management LLC raised its position in Tiffany & Co. by 261.2% in the second quarter. First Eagle Investment Management LLC now owns 3,876,154 shares of the company’s stock worth $235,050,000 after buying an additional 2,803,126 shares during the last quarter. Victory Capital Management Inc. raised its position in Tiffany & Co. by 80.2% in the second quarter. Victory Capital Management Inc. now owns 1,444,603 shares of the company’s stock worth $87,600,000 after buying an additional 642,759 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Tiffany & Co. during the second quarter worth $30,028,000. Renaissance Technologies LLC bought a new position in Tiffany & Co. during the first quarter worth $28,486,000. Finally, Cooke & Bieler LP bought a new position in Tiffany & Co. during the second quarter worth $20,072,000. 85.66% of the stock is owned by institutional investors and hedge funds.
Tiffany & Co. (NYSE:TIF) opened at 71.90 on Tuesday. The company’s 50 day moving average price is $71.54 and its 200-day moving average price is $67.08. 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 $8.98 billion, a P/E ratio of 20.51 and a beta of 2.07.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Thursday, August 25th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the 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 analysts’ expectations of $931.37 million. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. On average, analysts forecast that Tiffany & Co. will post $3.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Tuesday, September 20th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Friday, September 16th. Tiffany & Co.’s dividend payout ratio is currently 51.28%.
Several brokerages have recently commented on TIF. Wells Fargo & Co. reissued a “sell” rating and set a $58.00 price objective on shares of Tiffany & Co. in a report on Monday, June 27th. Morgan Stanley reissued a “hold” rating on shares of Tiffany & Co. in a report on Monday, August 15th. Mizuho boosted their price objective on Tiffany & Co. from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. RBC Capital Markets reissued a “sector perform” rating and set a $76.00 price objective (up previously from $65.00) on shares of Tiffany & Co. in a report on Sunday, August 28th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $73.00 price objective on shares of Tiffany & Co. in a report on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $79.14.
In related news, SVP Philippe Galtie sold 482 shares of the 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 owns 670 shares in the company, valued at $48,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jean-Marc Bellaiche sold 775 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $61.78, for a total value of $47,879.50. Following the sale, the insider now owns 2,179 shares of the company’s stock, valued at approximately $134,618.62. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
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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