Columbia Asset Management trimmed its stake in Tiffany & Co. (NYSE:TIF) by 14.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,945 shares of the specialty retailer’s stock after selling 500 shares during the period. Columbia Asset Management’s holdings in Tiffany & Co. were worth $276,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp lifted its stake in shares of Tiffany & Co. by 6.0% in the 1st quarter. Fifth Third Bancorp now owns 1,090 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 62 shares during the last quarter. Delphi Private Advisors LLC lifted its stake in shares of Tiffany & Co. by 100.0% in the 2nd quarter. Delphi Private Advisors LLC now owns 1,200 shares of the specialty retailer’s stock valued at $100,000 after purchasing an additional 600 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Tiffany & Co. by 66.9% in the 1st quarter. IFP Advisors Inc now owns 1,237 shares of the specialty retailer’s stock valued at $118,000 after purchasing an additional 496 shares during the last quarter. Welch Group LLC lifted its stake in shares of Tiffany & Co. by 0.5% in the 2nd quarter. Welch Group LLC now owns 1,549 shares of the specialty retailer’s stock valued at $145,000 after purchasing an additional 8 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in shares of Tiffany & Co. by 325.0% in the 4th quarter. Macquarie Group Ltd. now owns 1,700 shares of the specialty retailer’s stock valued at $132,000 after purchasing an additional 1,300 shares during the last quarter. 79.76% of the stock is owned by institutional investors and hedge funds.
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In related news, Director Francesco Trapani acquired 25,000 shares of Tiffany & Co. stock in a transaction dated Friday, September 1st. The shares were acquired at an average cost of $91.84 per share, for a total transaction of $2,296,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 241,064 shares of company stock worth $21,467,464. Insiders own 1.30% of the company’s stock.
Several equities research analysts have recently issued reports on TIF shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Tiffany & Co. in a research note on Friday, August 25th. Citigroup Inc. lowered their price objective on Tiffany & Co. from $91.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, May 25th. Jefferies Group LLC set a $110.00 price objective on Tiffany & Co. and gave the company a “buy” rating in a research note on Wednesday, August 16th. Zacks Investment Research lowered Tiffany & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) lowered their price objective on Tiffany & Co. from $107.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Tiffany & Co. presently has a consensus rating of “Buy” and a consensus target price of $92.81.
Shares of Tiffany & Co. (NYSE:TIF) traded up 1.84% during midday trading on Monday, reaching $94.87. The company’s stock had a trading volume of 147,832 shares. The company has a market capitalization of $11.81 billion, a P/E ratio of 25.77 and a beta of 1.91. Tiffany & Co. has a one year low of $66.35 and a one year high of $97.29. The stock’s 50-day moving average is $91.35 and its 200-day moving average is $91.82.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.06. The business had revenue of $960 million for the quarter, compared to analysts’ expectations of $930.19 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. On average, equities analysts expect that Tiffany & Co. will post $3.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Wednesday, September 20th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, September 19th. Tiffany & Co.’s payout ratio is currently 54.35%.
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. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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