State Street Corp Reduces Position in Tiffany & Co. (TIF)

State Street Corp decreased its stake in shares of Tiffany & Co. (NYSE:TIF) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,815,383 shares of the specialty retailer’s stock after selling 69,388 shares during the quarter. State Street Corp owned about 3.86% of Tiffany & Co. worth $452,023,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Tiffany & Co. by 2.6% during the second quarter. Vanguard Group Inc. now owns 12,229,111 shares of the specialty retailer’s stock worth $1,147,947,000 after acquiring an additional 310,235 shares during the last quarter. BlackRock Inc. lifted its position in Tiffany & Co. by 2,886.2% during the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock valued at $665,271,000 after purchasing an additional 6,747,028 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Tiffany & Co. by 2.7% during the second quarter. First Eagle Investment Management LLC now owns 4,140,990 shares of the specialty retailer’s stock valued at $388,715,000 after purchasing an additional 109,926 shares during the last quarter. FMR LLC lifted its position in Tiffany & Co. by 0.7% during the first quarter. FMR LLC now owns 2,463,909 shares of the specialty retailer’s stock valued at $234,810,000 after purchasing an additional 17,572 shares during the last quarter. Finally, Investec Asset Management LTD lifted its position in Tiffany & Co. by 2.2% during the second quarter. Investec Asset Management LTD now owns 2,098,510 shares of the specialty retailer’s stock valued at $196,987,000 after purchasing an additional 44,516 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

In related news, Director Robert S. Singer purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The stock was purchased at an average cost of $88.13 per share, with a total value of $88,130.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Francesco Trapani purchased 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were bought at an average cost of $89.34 per share, with a total value of $3,126,900.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 267,064 shares of company stock valued at $23,789,094. Corporate insiders own 1.40% of the company’s stock.

Tiffany & Co. (NYSE TIF) opened at 93.14 on Friday. The firm’s 50-day moving average is $91.53 and its 200-day moving average is $91.93. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 25.30 and a beta of 1.92. Tiffany & Co. has a 52-week low of $71.46 and a 52-week high of $97.29.

Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.06. The business had revenue of $960.00 million during the quarter, compared to the consensus estimate of $930.19 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. Analysts predict that Tiffany & Co. will post $3.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Wednesday, September 20th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Tuesday, September 19th. Tiffany & Co.’s dividend payout ratio is presently 54.35%.

TIF has been the subject of several research reports. Jefferies Group LLC set a $110.00 price objective on shares of Tiffany & Co. and gave the company a “buy” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of Tiffany & Co. from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, August 14th. BidaskClub downgraded shares of Tiffany & Co. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Bank of America Corporation reissued a “buy” rating and issued a $110.00 target price on shares of Tiffany & Co. in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. set a $105.00 target price on shares of Tiffany & Co. and gave the company a “buy” rating in a research note on Thursday, August 24th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $94.91.

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Tiffany & Co. 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.

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

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