Swiss National Bank Cuts Stock Holdings in Tiffany & Co. (NYSE:TIF)

Swiss National Bank decreased its stake in shares of Tiffany & Co. (NYSE:TIF) by 2.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 357,048 shares of the specialty retailer’s stock after selling 9,200 shares during the period. Swiss National Bank’s holdings in Tiffany & Co. were worth $33,434,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. NuWave Investment Management LLC boosted its position in Tiffany & Co. by 3,657.1% in the second quarter. NuWave Investment Management LLC now owns 263 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 256 shares during the last quarter. Bremer Bank National Association purchased a new position in Tiffany & Co. in the first quarter worth $31,000. Quadrant Capital Group LLC boosted its position in Tiffany & Co. by 631.9% in the first quarter. Quadrant Capital Group LLC now owns 527 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 455 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in Tiffany & Co. by 52.2% in the second quarter. Flagship Harbor Advisors LLC now owns 636 shares of the specialty retailer’s stock worth $59,000 after purchasing an additional 218 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. boosted its position in Tiffany & Co. by 366.7% in the second quarter. Mizuho Securities Co. Ltd. now owns 700 shares of the specialty retailer’s stock worth $66,000 after purchasing an additional 550 shares during the last quarter. 88.17% of the stock is currently owned by institutional investors.

Shares of NYSE TIF opened at $84.90 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.17 and a quick ratio of 1.36. Tiffany & Co. has a one year low of $73.04 and a one year high of $138.41. The stock has a market capitalization of $9.97 billion, a PE ratio of 18.38, a P/E/G ratio of 1.53 and a beta of 1.56. The business’s fifty day moving average price is $90.60 and its 200-day moving average price is $95.80.

Tiffany & Co. (NYSE:TIF) last released its quarterly earnings data on Tuesday, June 4th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. Tiffany & Co. had a return on equity of 18.11% and a net margin of 12.90%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $1.14 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that Tiffany & Co. will post 4.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 20th will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.73%. Tiffany & Co.’s payout ratio is 50.22%.

In related news, Director Francesco Trapani sold 250,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $92.10, for a total transaction of $23,025,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew W. Hart sold 2,665 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $90.53, for a total value of $241,262.45. Following the sale, the insider now owns 13,522 shares in the company, valued at $1,224,146.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 264,577 shares of company stock worth $24,346,681. 1.30% of the stock is currently owned by corporate insiders.

TIF has been the topic of several research analyst reports. UBS Group set a $98.00 price objective on Tiffany & Co. and gave the stock a “hold” rating in a research report on Tuesday, June 11th. Oppenheimer dropped their price target on Tiffany & Co. from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday. HSBC set a $122.00 price target on Tiffany & Co. and gave the company a “buy” rating in a research report on Friday, June 14th. Citigroup cut Tiffany & Co. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $115.00 to $100.00 in a research report on Monday, July 15th. Finally, Cowen reaffirmed an “outperform” rating and set a $107.00 price target (down previously from $115.00) on shares of Tiffany & Co. in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Tiffany & Co. has a consensus rating of “Buy” and a consensus price target of $110.41.

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 watches, home and accessories products, eyewear, and fragrances; and wholesales diamonds and earnings.

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Institutional Ownership by Quarter for Tiffany & Co. (NYSE:TIF)

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