Municipal Employees Retirement System of Michigan grew its holdings in Tiffany & Co. (NYSE:TIF) by 252.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,300 shares of the specialty retailer’s stock after acquiring an additional 6,660 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Tiffany & Co. were worth $966,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Calton & Associates Inc. purchased a new position in shares of Tiffany & Co. in the 4th quarter valued at $118,000. Denali Advisors LLC purchased a new position in shares of Tiffany & Co. in the 4th quarter valued at $125,000. Sawyer & Company Inc acquired a new stake in Tiffany & Co. during the 4th quarter valued at $130,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Tiffany & Co. by 103.1% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,373 shares of the specialty retailer’s stock valued at $143,000 after purchasing an additional 697 shares in the last quarter. Finally, Osborne Partners Capital Management LLC acquired a new stake in Tiffany & Co. during the 4th quarter valued at $208,000. 83.17% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on TIF. Royal Bank of Canada raised their price target on shares of Tiffany & Co. to $108.00 and gave the company a “sector perform” rating in a report on Thursday, January 18th. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating on shares of Tiffany & Co. in a report on Wednesday, January 24th. Wells Fargo reaffirmed a “hold” rating on shares of Tiffany & Co. in a report on Wednesday, January 17th. Loop Capital began coverage on shares of Tiffany & Co. in a report on Thursday, March 8th. They set a “hold” rating and a $103.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Tiffany & Co. in a report on Monday, December 18th. They set a “neutral” rating and a $103.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $106.88.
In other news, Director Charles K. Marquis sold 4,717 shares of Tiffany & Co. stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $107.84, for a total value of $508,681.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Joseph Kowalski sold 3,806 shares of Tiffany & Co. stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $102.53, for a total transaction of $390,229.18. The disclosure for this sale can be found here. Insiders sold a total of 135,832 shares of company stock valued at $14,611,214 over the last ninety days. Company insiders own 1.30% of the company’s stock.
Tiffany & Co. stock opened at $97.04 on Thursday. The firm has a market cap of $12,150.60, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.78. The company has a current ratio of 5.50, a quick ratio of 2.39 and a debt-to-equity ratio of 0.27. Tiffany & Co. has a fifty-two week low of $84.15 and a fifty-two week high of $111.44.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Friday, March 16th. The specialty retailer reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. Tiffany & Co. had a net margin of 8.87% and a return on equity of 16.32%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.45 EPS. sell-side analysts predict that Tiffany & Co. will post 4.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Tuesday, March 20th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, March 19th. Tiffany & Co.’s dividend payout ratio is currently 67.57%.
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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