Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Tiffany & Co. (NYSE:TIF) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,873 shares of the specialty retailer’s stock after purchasing an additional 1,031 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Tiffany & Co. were worth $1,570,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its position in Tiffany & Co. by 1.9% during the third quarter. Vanguard Group Inc now owns 12,569,628 shares of the specialty retailer’s stock worth $1,621,105,000 after buying an additional 239,164 shares in the last quarter. FMR LLC lifted its position in Tiffany & Co. by 1.4% during the fourth quarter. FMR LLC now owns 2,316,669 shares of the specialty retailer’s stock worth $186,516,000 after buying an additional 32,183 shares in the last quarter. Investec Asset Management LTD lifted its position in Tiffany & Co. by 40.2% during the fourth quarter. Investec Asset Management LTD now owns 1,767,784 shares of the specialty retailer’s stock worth $142,324,000 after buying an additional 506,984 shares in the last quarter. Brahman Capital Corp. purchased a new position in Tiffany & Co. during the fourth quarter worth approximately $121,397,000. Finally, Northern Trust Corp lifted its position in Tiffany & Co. by 2.3% during the fourth quarter. Northern Trust Corp now owns 1,467,256 shares of the specialty retailer’s stock worth $118,129,000 after buying an additional 33,197 shares in the last quarter. Hedge funds and other institutional investors own 87.97% of the company’s stock.
Shares of NYSE:TIF traded down $0.37 on Wednesday, hitting $90.82. 2,422,282 shares of the company’s stock were exchanged, compared to its average volume of 1,716,646. The stock has a market cap of $10.93 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.73 and a beta of 1.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.85 and a current ratio of 5.24. Tiffany & Co. has a 1-year low of $73.04 and a 1-year high of $141.64.
Tiffany & Co. (NYSE:TIF) last announced its earnings results on Friday, March 22nd. The specialty retailer reported $1.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.60. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Tiffany & Co. had a return on equity of 18.52% and a net margin of 13.20%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 EPS. On average, equities research analysts predict that Tiffany & Co. will post 4.92 EPS for the current year.
TIF has been the topic of a number of research analyst reports. Credit Suisse Group lifted their target price on Tiffany & Co. from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, March 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 report on Wednesday, March 20th. UBS Group lifted their target price on Tiffany & Co. to $103.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. Oppenheimer reduced their target price on Tiffany & Co. from $152.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, February 8th. Finally, Atlantic Securities upgraded Tiffany & Co. from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a report on Thursday, January 31st. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Tiffany & Co. has a consensus rating of “Buy” and an average target price of $116.63.
In other Tiffany & Co. news, Director Lawrence K. Fish sold 8,128 shares of the company’s 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.
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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.
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