Tiffany & Co. (TIF) Stake Decreased by Nordea Investment Management AB
Nordea Investment Management AB lowered its position in shares of Tiffany & Co. (NYSE:TIF) by 20.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,258 shares of the company’s stock after selling 14,726 shares during the period. Nordea Investment Management AB’s holdings in Tiffany & Co. were worth $3,472,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cleararc Capital Inc. increased its position in Tiffany & Co. by 0.5% in the first quarter. Cleararc Capital Inc. now owns 2,730 shares of the company’s stock worth $200,000 after buying an additional 14 shares during the period. Pacific Global Investment Management CO increased its position in Tiffany & Co. by 0.6% in the first quarter. Pacific Global Investment Management CO now owns 21,355 shares of the company’s stock worth $1,567,000 after buying an additional 117 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in Tiffany & Co. by 1.2% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,276 shares of the company’s stock worth $683,000 after buying an additional 137 shares during the period. Advisory Services Network LLC increased its position in Tiffany & Co. by 13.6% in the second quarter. Advisory Services Network LLC now owns 1,879 shares of the company’s stock worth $114,000 after buying an additional 225 shares during the period. Finally, Riverhead Capital Management LLC increased its position in Tiffany & Co. by 1.2% in the first quarter. Riverhead Capital Management LLC now owns 30,605 shares of the company’s stock worth $2,246,000 after buying an additional 359 shares during the period. 85.66% of the stock is owned by institutional investors and hedge funds.
Shares of Tiffany & Co. (NYSE:TIF) traded up 1.68% during midday trading on Wednesday, reaching $73.25. The company’s stock had a trading volume of 577,355 shares. The firm has a market capitalization of $9.15 billion, a P/E ratio of 20.89 and a beta of 2.07. The stock has a 50-day moving average of $71.52 and a 200 day moving average of $67.07. Tiffany & Co. has a 12-month low of $56.99 and a 12-month high of $84.19.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $932 million for the quarter, compared to analyst estimates of $931.37 million. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Equities research analysts predict that Tiffany & Co. will post $3.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Tuesday, September 20th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, September 16th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 51.28%.
A number of research firms have weighed in on TIF. Mizuho upped their target price on Tiffany & Co. from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 29th. RBC Capital Markets reiterated a “sector perform” rating and set a $76.00 target price (up previously from $65.00) on shares of Tiffany & Co. in a report on Sunday, August 28th. Nomura set a $76.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a report on Monday, August 29th. Credit Suisse Group AG reiterated a “hold” rating and set a $60.00 target price on shares of Tiffany & Co. in a report on Friday, August 26th. Finally, Cowen and Company upped their target price on Tiffany & Co. from $68.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, August 26th. 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 given a strong buy rating to the stock. Tiffany & Co. has an average rating of “Buy” and a consensus target price of $79.14.
In other news, SVP Philippe Galtie sold 482 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $72.01, for a total transaction of $34,708.82. Following the sale, the senior vice president now directly owns 670 shares of the company’s stock, valued at $48,246.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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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