CIBC Asset Management Inc reduced its position in shares of Tiffany & Co. (NYSE:TIF) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,397 shares of the specialty retailer’s stock after selling 617 shares during the period. CIBC Asset Management Inc’s holdings in Tiffany & Co. were worth $1,113,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westpac Banking Corp lifted its holdings in shares of Tiffany & Co. by 31.1% during the 4th quarter. Westpac Banking Corp now owns 37,666 shares of the specialty retailer’s stock worth $3,915,000 after acquiring an additional 8,940 shares during the last quarter. D L Carlson Investment Group Inc. bought a new stake in shares of Tiffany & Co. during the 4th quarter worth $3,191,000. Bedell Frazier Investment Counseling LLC bought a new stake in shares of Tiffany & Co. during the 4th quarter worth $8,409,000. Unio Capital LLC bought a new stake in shares of Tiffany & Co. during the 4th quarter worth $515,000. Finally, PGGM Investments lifted its holdings in shares of Tiffany & Co. by 259.0% during the 4th quarter. PGGM Investments now owns 179,300 shares of the specialty retailer’s stock worth $18,638,000 after acquiring an additional 129,357 shares during the last quarter. Hedge funds and other institutional investors own 83.82% of the company’s stock.
A number of research firms have recently issued reports on TIF. Oppenheimer lifted their price objective on shares of Tiffany & Co. from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 4th. Guggenheim reaffirmed a “buy” rating and set a $120.00 price objective on shares of Tiffany & Co. in a report on Friday, March 16th. Royal Bank of Canada lifted their price objective on shares of Tiffany & Co. to $108.00 and gave the stock a “sector perform” rating in a report on Thursday, January 18th. They noted that the move was a valuation call. Wells Fargo reaffirmed a “hold” rating on shares of Tiffany & Co. in a report on Wednesday, January 17th. Finally, Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Tiffany & Co. in a report on Monday, March 19th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $108.06.
Shares of Tiffany & Co. opened at $102.99 on Tuesday, Marketbeat.com reports. The stock has a market cap of $12.89 billion, a PE ratio of 24.94, a PEG ratio of 2.12 and a beta of 1.75. The company has a quick ratio of 2.39, a current ratio of 5.50 and a debt-to-equity ratio of 0.27. Tiffany & Co. has a 12 month low of $103.23 and a 12 month high of $104.37.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Friday, March 16th. The specialty retailer reported $1.67 EPS for the quarter, beating the consensus estimate of $1.63 by $0.04. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. Tiffany & Co. had a net margin of 8.87% and a return on equity of 16.32%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 earnings per share. equities analysts anticipate that Tiffany & Co. will post 4.37 earnings per share for the current year.
In other news, Chairman Roger N. Farah acquired 10,000 shares of the stock in a transaction dated Tuesday, March 27th. The stock was purchased at an average cost of $97.66 per share, with a total value of $976,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Joseph Kowalski sold 39,809 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $104.11, for a total transaction of $4,144,514.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 75,000 shares of company stock valued at $7,238,850 and have sold 47,419 shares valued at $4,903,374. Corporate insiders own 1.30% 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.
Want to see what other hedge funds are holding TIF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tiffany & Co. (NYSE:TIF).
Receive News & Ratings for Tiffany & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tiffany & Co. and related companies with MarketBeat.com's FREE daily email newsletter.