Zacks Investment Research Lowers Tiffany & Co. (TIF) to Sell
According to Zacks, “A mature domestic market, foreign currency headwinds and cautious consumer spending have been weighing upon Tiffany’s performance. The company did make a comeback by posting an earnings beat in the second quarter – after commencing fiscal 2016 on a soft note – it failed to curb the year-over-year decline. This was the fourth quarter in row, when Tiffany’s top and bottom lines have declined. Management continues to anticipate earnings per share for fiscal 2016 to decline by a mid-single-digit percentage and worldwide net sales to decrease by a low-single-digit percentage from the prior year. Nevertheless, we believe that the company’s omni-channel platform, store expansion programs, tapping of new markets and venturing into new revenue generating avenues such as watches may help improve performance in the long run. We noted that estimates have been stable ahead of the company’s third quarter earnings release.”
Several other equities research analysts have also recently commented on the company. Deutsche Bank AG reissued a hold rating and issued a $75.50 price target on shares of Tiffany & Co. in a research note on Wednesday, November 23rd. Oppenheimer Holdings Inc. boosted their price target on Tiffany & Co. from $80.00 to $87.00 and gave the company an outperform rating in a research note on Wednesday, November 23rd. Wells Fargo & Co. reissued an underperform rating on shares of Tiffany & Co. in a research note on Wednesday, November 16th. Jefferies Group upped their target price on Tiffany & Co. from $85.00 to $100.00 and gave the stock a buy rating in a research report on Monday, November 14th. Finally, Cowen and Company raised Tiffany & Co. from a market perform rating to an outperform rating and upped their target price for the stock from $74.00 to $90.00 in a research report on Friday, November 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Tiffany & Co. has a consensus rating of Buy and a consensus target price of $78.95.
Shares of Tiffany & Co. (NYSE:TIF) opened at 78.14 on Thursday. Tiffany & Co. has a 1-year low of $56.99 and a 1-year high of $81.89. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 22.29 and a beta of 1.84. The firm’s 50-day moving average is $74.94 and its 200 day moving average is $67.93.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 10th. Investors of record on Tuesday, December 20th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.31%. Tiffany & Co.’s dividend payout ratio is 51.28%.
In related news, SVP Philippe Galtie sold 482 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $72.01, for a total value of $34,708.82. Following the transaction, 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 SEC, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Welch Group LLC purchased a new position in Tiffany & Co. during the third quarter valued at about $111,000. Fuller & Thaler Asset Management Inc. purchased a new position in Tiffany & Co. during the second quarter valued at about $103,000. Advisory Services Network LLC boosted 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 valued at $114,000 after buying an additional 225 shares in the last quarter. Pacer Advisors Inc. boosted its position in Tiffany & Co. by 9.9% in the second quarter. Pacer Advisors Inc. now owns 2,051 shares of the company’s stock valued at $124,000 after buying an additional 184 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Tiffany & Co. by 6,690.6% in the second quarter. Signaturefd LLC now owns 2,173 shares of the company’s stock valued at $132,000 after buying an additional 2,141 shares in the last quarter. Institutional investors and hedge funds own 87.59% 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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