First Eagle Investment Management LLC raised its stake in shares of Tiffany & Co. (NYSE:TIF) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,140,990 shares of the specialty retailer’s stock after buying an additional 109,926 shares during the period. First Eagle Investment Management LLC owned approximately 3.32% of Tiffany & Co. worth $388,715,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Tiffany & Co. by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,918,876 shares of the specialty retailer’s stock valued at $1,135,869,000 after buying an additional 177,418 shares during the period. BlackRock Inc. increased its position in shares of Tiffany & Co. by 2,886.2% in the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock valued at $665,271,000 after buying an additional 6,747,028 shares during the period. State Street Corp increased its position in shares of Tiffany & Co. by 0.3% in the first quarter. State Street Corp now owns 4,884,771 shares of the specialty retailer’s stock valued at $465,549,000 after buying an additional 12,498 shares during the period. FMR LLC increased its position in shares of Tiffany & Co. by 0.7% in the first quarter. FMR LLC now owns 2,463,909 shares of the specialty retailer’s stock valued at $234,810,000 after buying an additional 17,572 shares during the period. Finally, Investec Asset Management LTD increased its position in shares of Tiffany & Co. by 85.9% in the first quarter. Investec Asset Management LTD now owns 2,053,994 shares of the specialty retailer’s stock valued at $195,746,000 after buying an additional 949,105 shares during the period. 81.31% of the stock is currently owned by institutional investors.
Shares of Tiffany & Co. (TIF) opened at 88.03 on Friday. Tiffany & Co. has a one year low of $66.19 and a one year high of $97.29. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 24.44 and a beta of 1.92. The firm has a 50-day moving average price of $92.40 and a 200 day moving average price of $90.82.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Wednesday, May 24th. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.26%. The company had revenue of $899.60 million for the quarter, compared to analysts’ expectations of $915.48 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts forecast that Tiffany & Co. will post $3.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, September 19th. Tiffany & Co.’s payout ratio is 55.56%.
A number of research firms have recently issued reports on TIF. Citigroup Inc. dropped their price target on Tiffany & Co. from $91.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, May 25th. Jefferies Group LLC set a $110.00 price target on Tiffany & Co. and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded Tiffany & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) dropped their price target on Tiffany & Co. from $107.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. set a $105.00 price target on Tiffany & Co. and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Tiffany & Co. has an average rating of “Buy” and a consensus price target of $92.81.
Tiffany & Co. Company Profile
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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