Nomura Raises Tiffany & Co. (TIF) Price Target to $84.00
Tiffany & Co. (NYSE:TIF) had its price target increased by Nomura from $76.00 to $84.00 in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Nomura’s price objective would suggest a potential upside of 1.84% from the stock’s previous close.
Several other research analysts have also recently issued reports on TIF. Morgan Stanley reissued a “hold” rating on shares of Tiffany & Co. in a report on Monday, August 15th. Mizuho raised their target price on shares of Tiffany & Co. from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Tiffany & Co. in a report on Wednesday, August 24th. Royal Bank Of Canada lifted their price objective on shares of Tiffany & Co. from $65.00 to $76.00 and gave the company a “sector perform” rating in a report on Friday, August 26th. Finally, Citigroup Inc. lifted their price objective on shares of Tiffany & Co. from $71.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $80.34.
Shares of Tiffany & Co. (NYSE:TIF) traded up 2.33% on Wednesday, reaching $82.48. 4,315,586 shares of the company traded hands. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 23.53 and a beta of 1.84. Tiffany & Co. has a 1-year low of $56.99 and a 1-year high of $84.92. The company has a 50-day moving average of $75.39 and a 200-day moving average of $68.15.
Tiffany & Co. (NYSE:TIF) last issued its earnings results on Tuesday, November 29th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.09. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The firm earned $949.30 million during the quarter. During the same period last year, the business earned $0.70 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts anticipate that Tiffany & Co. will post $3.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 10th. Investors of record on Tuesday, December 20th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.18%. Tiffany & Co.’s payout ratio is currently 51.28%.
In related news, SVP Philippe Galtie sold 482 shares of the company’s stock in a transaction that occurred 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 approximately $48,246.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Tiffany & Co. by 430.0% in the first quarter. Envestnet Asset Management Inc. now owns 11,735 shares of the company’s stock valued at $861,000 after buying an additional 9,521 shares during the period. LPL Financial LLC boosted its position in Tiffany & Co. by 13.7% in the first quarter. LPL Financial LLC now owns 19,470 shares of the company’s stock valued at $1,397,000 after buying an additional 2,339 shares during the period. BlueMountain Capital Management LLC purchased a new position in Tiffany & Co. during the first quarter valued at approximately $478,000. Cullinan Associates Inc. boosted its position in Tiffany & Co. by 7.2% in the second quarter. Cullinan Associates Inc. now owns 14,800 shares of the company’s stock valued at $897,000 after buying an additional 1,000 shares during the period. Finally, Cacti Asset Management LLC boosted its position in Tiffany & Co. by 55.6% in the second quarter. Cacti Asset Management LLC now owns 3,735 shares of the company’s stock valued at $226,000 after buying an additional 1,335 shares during the period. 87.59% of the stock is currently owned by hedge funds and other institutional investors.
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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