Public Employees Retirement Association of Colorado lowered its position in Tiffany & Co. (NYSE:TIF) by 3.5% during the third quarter, Holdings Channel reports. The fund owned 24,977 shares of the company’s stock after selling 898 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Tiffany & Co. were worth $1,814,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Sprucegrove Investment Management Ltd. increased its stake in Tiffany & Co. by 137.0% in the second quarter. Sprucegrove Investment Management Ltd. now owns 274,500 shares of the company’s stock worth $16,646,000 after buying an additional 158,700 shares during the period. Cooke & Bieler LP purchased a new stake in Tiffany & Co. during the second quarter worth approximately $20,072,000. Speece Thorson Capital Group Inc. increased its stake in Tiffany & Co. by 110.8% in the second quarter. Speece Thorson Capital Group Inc. now owns 203,830 shares of the company’s stock worth $12,360,000 after buying an additional 107,156 shares during the period. Gofen & Glossberg LLC IL increased its stake in Tiffany & Co. by 0.3% in the third quarter. Gofen & Glossberg LLC IL now owns 95,118 shares of the company’s stock worth $6,908,000 after buying an additional 279 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in Tiffany & Co. by 31.0% in the second quarter. Teacher Retirement System of Texas now owns 9,154 shares of the company’s stock worth $555,000 after buying an additional 2,165 shares during the period. Institutional investors and hedge funds own 86.44% of the company’s stock.
Tiffany & Co. (NYSE:TIF) traded down 1.41% during trading on Friday, reaching $78.06. The company had a trading volume of 772,640 shares. The company has a market capitalization of $9.75 billion, a P/E ratio of 22.26 and a beta of 1.84. The firm’s 50 day moving average is $74.80 and its 200-day moving average is $67.86. Tiffany & Co. has a 12 month low of $56.99 and a 12 month high of $81.89.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.12. The firm earned $932 million during the quarter, compared to analysts’ expectations of $931.37 million. Tiffany & Co. had a return on equity of 15.90% and a net margin of 11.26%. Tiffany & Co.’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, equities analysts expect that Tiffany & Co. will post $3.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 10th. Investors of record on Tuesday, December 20th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.31%. Tiffany & Co.’s dividend payout ratio is presently 51.28%.
A number of equities research analysts recently commented on the company. Bank of America Corp. set a $75.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a report on Thursday, September 22nd. Royal Bank Of Canada lifted their target price on Tiffany & Co. from $65.00 to $76.00 and gave the stock a “sector perform” rating in a report on Friday, August 26th. Zacks Investment Research downgraded Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. Guggenheim began coverage on Tiffany & Co. in a report on Friday, September 30th. They issued a “buy” rating and a $85.00 price target for the company. Finally, Mizuho boosted their price target on Tiffany & Co. from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Tiffany & Co. currently has an average rating of “Buy” and a consensus price target of $78.95.
In related news, SVP Philippe Galtie sold 482 shares of Tiffany & Co. 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 transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
About Tiffany & Co.
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.