Victory Capital Management Inc. reduced its position in shares of Tiffany & Co. (NYSE:TIF) by 58.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 849,580 shares of the specialty retailer’s stock after selling 1,197,887 shares during the period. Victory Capital Management Inc.’s holdings in Tiffany & Co. were worth $109,571,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in TIF. Marshall Wace LLP boosted its position in shares of Tiffany & Co. by 4,305.5% in the 2nd quarter. Marshall Wace LLP now owns 345,262 shares of the specialty retailer’s stock valued at $45,436,000 after purchasing an additional 337,425 shares during the period. Castleark Management LLC acquired a new position in shares of Tiffany & Co. in the 2nd quarter valued at $16,904,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Tiffany & Co. by 18.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 59,208 shares of the specialty retailer’s stock valued at $7,792,000 after purchasing an additional 9,118 shares during the period. Morgan Stanley boosted its position in shares of Tiffany & Co. by 49.4% in the 2nd quarter. Morgan Stanley now owns 1,076,833 shares of the specialty retailer’s stock valued at $141,711,000 after purchasing an additional 355,896 shares during the period. Finally, Point72 Hong Kong Ltd boosted its position in shares of Tiffany & Co. by 279.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,488 shares of the specialty retailer’s stock valued at $327,000 after purchasing an additional 1,833 shares during the period. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
In other Tiffany & Co. news, Director William A. Shutzer sold 250 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $126.29, for a total transaction of $31,572.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence K. Fish sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $129.40, for a total value of $905,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 60,000 shares of company stock valued at $7,435,050 and have sold 22,148 shares valued at $2,839,461. Company insiders own 1.30% of the company’s stock.
Shares of NYSE TIF opened at $115.92 on Friday. Tiffany & Co. has a one year low of $90.46 and a one year high of $141.64. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.05 and a quick ratio of 2.09.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Tuesday, August 28th. The specialty retailer reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.16. Tiffany & Co. had a return on equity of 18.67% and a net margin of 10.16%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts expect that Tiffany & Co. will post 4.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, September 19th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. Tiffany & Co.’s payout ratio is presently 53.27%.
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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