Patten Group Inc. held its stake in shares of Tiffany & Co. (NYSE:TIF) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,475 shares of the specialty retailer’s stock at the end of the first quarter. Patten Group Inc.’s holdings in Tiffany & Co. were worth $699,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of TIF. BlackRock Inc. increased its stake in shares of Tiffany & Co. by 2,886.2% in the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock worth $665,271,000 after buying an additional 6,747,028 shares during the last quarter. Norges Bank purchased a new stake in shares of Tiffany & Co. during the fourth quarter worth approximately $124,477,000. Investec Asset Management LTD boosted its stake in shares of Tiffany & Co. by 85.9% in the first quarter. Investec Asset Management LTD now owns 2,053,994 shares of the specialty retailer’s stock worth $195,746,000 after buying an additional 949,105 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Tiffany & Co. during the first quarter worth approximately $39,206,000. Finally, FMR LLC boosted its stake in shares of Tiffany & Co. by 13.9% in the fourth quarter. FMR LLC now owns 2,446,337 shares of the specialty retailer’s stock worth $189,420,000 after buying an additional 299,036 shares during the period. Institutional investors and hedge funds own 81.01% of the company’s stock.
Tiffany & Co. (TIF) opened at 92.16 on Tuesday. The stock has a 50 day moving average price of $91.35 and a 200-day moving average price of $87.67. Tiffany & Co. has a 12-month low of $58.76 and a 12-month high of $97.29. The stock has a market capitalization of $11.49 billion, a PE ratio of 25.59 and a beta of 1.92.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings results on Wednesday, May 24th. The specialty retailer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The firm had revenue of $899.60 million during the quarter, compared to the consensus estimate of $915.48 million. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.91%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, equities analysts anticipate that Tiffany & Co. will post $3.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Tuesday, June 20th were issued a $0.50 dividend. This is an increase from Tiffany & Co.’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.17%. Tiffany & Co.’s dividend payout ratio is presently 55.56%.
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TIF has been the topic of several analyst reports. Instinet lifted their target price on Tiffany & Co. from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, March 20th. Goldman Sachs Group, Inc. (The) upgraded Tiffany & Co. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $82.00 to $107.00 in a report on Friday, May 12th. Bank of America Corporation reiterated a “buy” rating and set a $110.00 price target on shares of Tiffany & Co. in a report on Wednesday, May 10th. Jefferies Group LLC reiterated a “buy” rating and set a $110.00 price target on shares of Tiffany & Co. in a report on Tuesday, May 2nd. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Tiffany & Co. in a report on Friday, April 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Tiffany & Co. has an average rating of “Buy” and an average target price of $92.36.
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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