Trading Report: The 1,600 Shares of Tiffany & Co. (TIF) are sold by Welch & Forbes LLC

The 1,600 Shares of Tiffany & Co. (TIF) are sold by Welch & Forbes LLC

Welch & Forbes LLC cut its stake in shares of Tiffany & Co. (NYSE:TIF) by 5.1% during the second quarter, Holdings Channel reports. The institutional investor owned 29,920 shares of the company’s stock after selling 1,600 shares during the period. Welch & Forbes LLC’s holdings in Tiffany & Co. were worth $1,814,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Tiffany & Co. by 4.4% in the first quarter. Wellington Management Group LLP now owns 1,449,171 shares of the company’s stock valued at $106,340,000 after buying an additional 61,516 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Tiffany & Co. by 6.1% in the first quarter. Geode Capital Management LLC now owns 946,234 shares of the company’s stock valued at $69,293,000 after buying an additional 54,038 shares in the last quarter. Legal & General Group Plc raised its position in shares of Tiffany & Co. by 0.4% in the first quarter. Legal & General Group Plc now owns 528,755 shares of the company’s stock valued at $38,799,000 after buying an additional 2,109 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in shares of Tiffany & Co. by 17.6% in the second quarter. Douglass Winthrop Advisors LLC now owns 520,239 shares of the company’s stock valued at $31,547,000 after buying an additional 77,748 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Tiffany & Co. during the first quarter valued at approximately $28,486,000. Institutional investors own 85.66% of the company’s stock.

Shares of Tiffany & Co. (NYSE:TIF) traded up 0.52% during mid-day trading on Friday, hitting $73.21. The stock had a trading volume of 536,772 shares. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 20.88 and a beta of 2.07. Tiffany & Co. has a one year low of $56.99 and a one year high of $84.19. The company has a 50-day moving average of $72.16 and a 200 day moving average of $67.23.

Tiffany & Co. (NYSE:TIF) last announced its earnings results on Thursday, August 25th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Tiffany & Co. had a return on equity of 15.90% and a net margin of 11.26%. The business earned $932 million during the quarter, compared to analysts’ expectations of $931.37 million. During the same quarter last year, the business posted $0.86 earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities research analysts forecast that Tiffany & Co. will post $3.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Tuesday, September 20th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.46%. Tiffany & Co.’s dividend payout ratio is currently 51.28%.

TIF has been the topic of a number of research reports. Morgan Stanley restated a “hold” rating on shares of Tiffany & Co. in a research report on Monday, August 15th. TheStreet upgraded shares of Tiffany & Co. from a “hold” rating to a “buy” rating in a research report on Wednesday. Nomura set a $76.00 target price on shares of Tiffany & Co. and gave the stock a “buy” rating in a research report on Monday, August 29th. RBC Capital Markets restated a “sector perform” rating and set a $76.00 target price (up from $65.00) on shares of Tiffany & Co. in a research report on Sunday, August 28th. Finally, Mizuho raised their target price on shares of Tiffany & Co. from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $79.14.

In other news, SVP Philippe Galtie sold 482 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $72.01, for a total transaction of $34,708.82. Following the completion of the sale, the senior vice president now directly owns 670 shares of the company’s stock, valued at $48,246.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

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. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO. retail stores. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other.

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