California Public Employees Retirement System lessened its stake in shares of Tiffany & Co. (NYSE:TIF) by 34.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 347,996 shares of the specialty retailer’s stock after selling 182,437 shares during the quarter. California Public Employees Retirement System’s holdings in Tiffany & Co. were worth $36,731,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in Tiffany & Co. by 193.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 13,605 shares of the specialty retailer’s stock valued at $1,095,000 after buying an additional 8,963 shares in the last quarter. Employees Retirement System of Texas grew its holdings in Tiffany & Co. by 70.0% during the 4th quarter. Employees Retirement System of Texas now owns 17,000 shares of the specialty retailer’s stock valued at $1,369,000 after buying an additional 7,000 shares in the last quarter. Granite Investment Advisors LLC grew its holdings in Tiffany & Co. by 3.7% during the 4th quarter. Granite Investment Advisors LLC now owns 18,030 shares of the specialty retailer’s stock valued at $1,452,000 after buying an additional 650 shares in the last quarter. Triangle Securities Wealth Management purchased a new position in Tiffany & Co. during the 4th quarter valued at about $300,000. Finally, Investec Asset Management LTD grew its holdings in Tiffany & Co. by 40.2% during 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 in the last quarter. 86.12% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on TIF. Zacks Investment Research raised Tiffany & Co. from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Loop Capital upgraded Tiffany & Co. to a “buy” rating and set a $125.00 price target for the company in a research report on Thursday, April 18th. Sanford C. Bernstein assumed coverage on Tiffany & Co. in a research report on Tuesday, April 16th. They set an “outperform” rating and a $125.00 price target for the company. Oppenheimer dropped their price target on Tiffany & Co. from $152.00 to $115.00 and set an “outperform” rating for the company 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 target for the company in a research report on Thursday, January 31st. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Tiffany & Co. has a consensus rating of “Buy” and a consensus target price of $116.78.
NYSE:TIF opened at $98.36 on Thursday. The company has a market capitalization of $11.86 billion, a P/E ratio of 21.29, a PEG ratio of 1.81 and a beta of 1.55. Tiffany & Co. has a 1-year low of $73.04 and a 1-year high of $141.64. The company has a quick ratio of 1.85, a current ratio of 5.24 and a debt-to-equity ratio of 0.28.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Friday, March 22nd. The specialty retailer reported $1.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.60. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. Tiffany & Co. had a return on equity of 18.52% and a net margin of 13.20%. Tiffany & Co.’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 EPS. On average, equities analysts forecast that Tiffany & Co. will post 4.91 EPS for the current fiscal year.
Tiffany & Co. Profile
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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