Tiffany & Co. (TIF) Given a $91.00 Price Target at Cowen and Company
Tiffany & Co. (NYSE:TIF) has been given a $91.00 price objective by investment analysts at Cowen and Company in a report issued on Tuesday. The firm currently has a “buy” rating on the stock. Cowen and Company’s price target suggests a potential upside of 16.58% from the company’s previous close.
TIF has been the subject of a number of other research reports. Deutsche Bank AG reissued a “hold” rating and issued a $73.00 price objective on shares of Tiffany & Co. in a research report on Wednesday, August 24th. Mizuho lifted their price objective on shares of Tiffany & Co. from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 29th. Zacks Investment Research raised shares of Tiffany & Co. from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, October 31st. Guggenheim started coverage on shares of Tiffany & Co. in a research report on Friday, September 30th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Wells Fargo & Co. reissued an “underperform” rating on shares of Tiffany & Co. in a research report on Wednesday, November 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $78.99.
Tiffany & Co. (NYSE:TIF) traded up 2.80% during mid-day trading on Tuesday, reaching $80.33. 7,319,867 shares of the company were exchanged. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 22.91 and a beta of 1.84. The company’s 50 day moving average price is $74.94 and its 200-day moving average price is $67.93. Tiffany & Co. has a 12-month low of $56.99 and a 12-month high of $84.40.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Tuesday, November 29th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business earned $949.30 million during the quarter, compared to the consensus estimate of $922.60 million. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.90%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. On average, equities research analysts forecast that Tiffany & Co. will post $3.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 10th. Stockholders of record on Tuesday, December 20th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.31%. Tiffany & Co.’s dividend payout ratio (DPR) is currently 51.28%.
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In other news, SVP Philippe Galtie sold 482 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $72.01, for a total value of $34,708.82. Following the transaction, the senior vice president now owns 670 shares in the company, valued at approximately $48,246.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TIF. State Street Corp increased its position in shares of Tiffany & Co. by 7.4% in the second quarter. State Street Corp now owns 4,867,008 shares of the company’s stock worth $295,150,000 after buying an additional 336,259 shares during the period. First Eagle Investment Management LLC increased its position in shares of Tiffany & Co. by 0.8% in the third quarter. First Eagle Investment Management LLC now owns 3,905,747 shares of the company’s stock worth $283,674,000 after buying an additional 29,593 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Tiffany & Co. by 1.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,885,604 shares of the company’s stock worth $209,581,000 after buying an additional 43,503 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Tiffany & Co. by 23.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,078,657 shares of the company’s stock worth $150,973,000 after buying an additional 389,151 shares during the period. Finally, Franklin Resources Inc. increased its position in Tiffany & Co. by 12.7% in the second quarter. Franklin Resources Inc. now owns 2,055,464 shares of the company’s stock worth $124,644,000 after buying an additional 231,445 shares during the last quarter. Hedge funds and other institutional investors own 87.59% 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.
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