Zacks Investment Management Takes $573,000 Position in Tiffany & Co. (TIF)
Zacks Investment Management bought a new position in shares of Tiffany & Co. (NYSE:TIF) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,355 shares of the specialty retailer’s stock, valued at approximately $573,000.
A number of other institutional investors and hedge funds also recently modified their holdings of TIF. Sensato Investors LLC bought a new position in shares of Tiffany & Co. during the 2nd quarter valued at about $16,178,000. Impax Asset Management LLC acquired a new position in shares of Tiffany & Co. during the 2nd quarter worth approximately $206,000. Macquarie Group Ltd. boosted its stake in shares of Tiffany & Co. by 315.5% during the 2nd quarter. Macquarie Group Ltd. now owns 14,128 shares of the specialty retailer’s stock worth $1,860,000 after acquiring an additional 10,728 shares during the period. Sterling Capital Management LLC bought a new position in shares of Tiffany & Co. during the 2nd quarter worth approximately $1,336,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Tiffany & Co. by 238.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,077 shares of the specialty retailer’s stock worth $1,984,000 after acquiring an additional 10,618 shares during the period. Hedge funds and other institutional investors own 79.66% of the company’s stock.
In other news, Director Francesco Trapani bought 40,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was acquired at an average cost of $124.25 per share, with a total value of $4,970,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gretchen Koback-Pursel sold 881 shares of the firm’s stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $133.66, for a total value of $117,754.46. Following the completion of the sale, the insider now directly owns 883 shares of the company’s stock, valued at $118,021.78. The disclosure for this sale can be found here. Insiders acquired 60,000 shares of company stock valued at $7,435,050 over the last three months. Company insiders own 1.30% of the company’s stock.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.16. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. Tiffany & Co. had a return on equity of 18.67% and a net margin of 10.16%. Tiffany & Co.’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.92 earnings per share. equities research analysts predict that Tiffany & Co. will post 4.79 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Wednesday, September 19th. Tiffany & Co.’s dividend payout ratio is currently 53.27%.
Several analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $160.00 price target on shares of Tiffany & Co. in a research note on Tuesday, August 28th. ValuEngine raised Tiffany & Co. from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. Goldman Sachs Group assumed coverage on Tiffany & Co. in a report on Monday, June 25th. They issued a “buy” rating and a $165.00 target price for the company. Morgan Stanley upped their target price on Tiffany & Co. from $94.00 to $126.00 and gave the stock an “equal weight” rating in a report on Thursday, May 24th. Finally, KeyCorp upped their target price on Tiffany & Co. from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, August 29th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $131.00.
Tiffany & Co. Company Profile
Tiffany & Co, through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.
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