“We continued to be impressed by the team at Tiffany, as it is clear to us that there is significant change occurring to an already outstanding global organization. We believe the company remains poised for improved top and bottom line results over the next several years.”,” the firm’s analyst wrote.
Other equities analysts also recently issued reports about the company. Oppenheimer reaffirmed a buy rating on shares of Tiffany & Co. in a research report on Wednesday, January 24th. Cowen reaffirmed a buy rating and issued a $110.00 target price on shares of Tiffany & Co. in a research report on Monday, March 19th. Citigroup raised Tiffany & Co. from a neutral rating to a buy rating and lifted their target price for the company from $92.00 to $115.00 in a research report on Thursday, December 14th. Morgan Stanley lifted their price objective on Tiffany & Co. from $83.00 to $94.00 and gave the company an equal weight rating in a research note on Monday, March 19th. Finally, Loop Capital assumed coverage on Tiffany & Co. in a research note on Thursday, March 8th. They issued a hold rating and a $103.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Tiffany & Co. presently has a consensus rating of Buy and a consensus price target of $107.47.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Friday, March 16th. The specialty retailer reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. Tiffany & Co. had a return on equity of 16.32% and a net margin of 8.87%. Tiffany & Co.’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. sell-side analysts forecast that Tiffany & Co. will post 4.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Tuesday, March 20th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, March 19th. Tiffany & Co.’s payout ratio is 48.43%.
In other Tiffany & Co. news, Chairman Roger N. Farah bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 27th. The stock was purchased at an average price of $97.66 per share, for a total transaction of $976,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francesco Trapani bought 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were acquired at an average price of $94.66 per share, with a total value of $3,313,100.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 77,000 shares of company stock valued at $7,437,830 and have sold 139,636 shares valued at $14,979,843. 1.40% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of TIF. Calton & Associates Inc. purchased a new stake in Tiffany & Co. during the fourth quarter worth approximately $118,000. Denali Advisors LLC purchased a new stake in Tiffany & Co. during the fourth quarter worth approximately $125,000. Sawyer & Company Inc acquired a new position in Tiffany & Co. during the fourth quarter worth approximately $130,000. Harel Insurance Investments & Financial Services Ltd. increased its position in Tiffany & Co. by 103.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,373 shares of the specialty retailer’s stock worth $143,000 after buying an additional 697 shares during the period. Finally, Osborne Partners Capital Management LLC acquired a new position in Tiffany & Co. during the fourth quarter worth approximately $208,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.
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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