Tiffany & Co. (TIF) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Tiffany & Co. (NYSE:TIF) in a research note released on Tuesday, The Fly reports. The firm issued an outperform rating and a $125.00 price objective on the specialty retailer’s stock.

A number of other brokerages also recently commented on TIF. Guggenheim restated a buy rating on shares of Tiffany & Co. in a research note on Friday, January 25th. Bank of America restated a neutral rating and issued a $104.00 target price (up previously from $95.00) on shares of Tiffany & Co. in a research note on Wednesday, March 20th. Oppenheimer lowered their target price on Tiffany & Co. from $152.00 to $115.00 and set an outperform rating on the stock in a research note on Friday, February 8th. Wells Fargo & Co lowered their target price on Tiffany & Co. from $100.00 to $90.00 and set a market perform rating on the stock in a research note on Wednesday, January 2nd. Finally, Credit Suisse Group boosted their target price on Tiffany & Co. from $108.00 to $115.00 and gave the company an outperform rating in a research note on Monday, March 25th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Tiffany & Co. has an average rating of Buy and an average target price of $116.35.

Shares of TIF stock opened at $107.23 on Tuesday. Tiffany & Co. has a 1-year low of $73.04 and a 1-year high of $141.64. The company has a current ratio of 5.24, a quick ratio of 1.85 and a debt-to-equity ratio of 0.28. The firm has a market cap of $12.86 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.96 and a beta of 1.56.

Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings results on Friday, March 22nd. The specialty retailer reported $1.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.60. Tiffany & Co. had a return on equity of 18.52% and a net margin of 13.20%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. Tiffany & Co.’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Tiffany & Co. will post 4.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. Tiffany & Co.’s dividend payout ratio is currently 47.62%.

In related news, Director Lawrence K. Fish sold 8,128 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $103.58, for a total transaction of $841,898.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Philippe Galtie sold 1,263 shares of the stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $88.23, for a total value of $111,434.49. Following the sale, the insider now owns 6,010 shares in the company, valued at $530,262.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,819 shares of company stock worth $1,602,466. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its position in Tiffany & Co. by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 12,569,628 shares of the specialty retailer’s stock worth $1,621,105,000 after acquiring an additional 239,164 shares during the last quarter. FMR LLC boosted its position in Tiffany & Co. by 1.4% in the 4th quarter. FMR LLC now owns 2,316,669 shares of the specialty retailer’s stock valued at $186,516,000 after buying an additional 32,183 shares during the last quarter. Investec Asset Management LTD boosted its position in Tiffany & Co. by 40.2% in the 4th quarter. Investec Asset Management LTD now owns 1,767,784 shares of the specialty retailer’s stock valued at $142,324,000 after buying an additional 506,984 shares during the last quarter. Brahman Capital Corp. bought a new position in Tiffany & Co. in the 4th quarter valued at $121,397,000. Finally, Northern Trust Corp boosted its position in Tiffany & Co. by 2.3% in the 4th quarter. Northern Trust Corp now owns 1,467,256 shares of the specialty retailer’s stock valued at $118,129,000 after buying an additional 33,197 shares during the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

About Tiffany & Co.

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 watches, home and accessories products, eyewear, and fragrances; and wholesales diamonds and earnings.

See Also: Sell-Side Analysts

The Fly

Analyst Recommendations for Tiffany & Co. (NYSE:TIF)

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