Bank of New York Mellon Corp Trims Stake in Tiffany & Co. (TIF)
Bank of New York Mellon Corp trimmed its holdings in Tiffany & Co. (NYSE:TIF) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,082,942 shares of the specialty retailer’s stock after selling 3,348 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tiffany & Co. were worth $142,515,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in shares of Tiffany & Co. by 11.6% in the second quarter. State of Alaska Department of Revenue now owns 36,503 shares of the specialty retailer’s stock valued at $4,801,000 after acquiring an additional 3,790 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Tiffany & Co. by 18.2% in the second quarter. Nomura Asset Management Co. Ltd. now owns 59,208 shares of the specialty retailer’s stock valued at $7,792,000 after acquiring an additional 9,118 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Tiffany & Co. by 349.7% in the first quarter. BNP Paribas Arbitrage SA now owns 199,812 shares of the specialty retailer’s stock valued at $19,514,000 after acquiring an additional 155,383 shares during the period. W.E. Donoghue & Co. LLC bought a new stake in shares of Tiffany & Co. in the second quarter valued at approximately $2,388,000. Finally, Armstrong Henry H Associates Inc. bought a new stake in shares of Tiffany & Co. in the second quarter valued at approximately $224,000. 81.33% of the stock is owned by institutional investors.
In other news, insider Leigh M. Harlan sold 4,046 shares of the firm’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $129.01, for a total value of $521,974.46. Following the completion of the sale, the insider now directly owns 9,916 shares in the company, valued at $1,279,263.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Andrea Davey sold 1,129 shares of the firm’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $129.56, for a total value of $146,273.24. Following the completion of the sale, the senior vice president now owns 2,900 shares of the company’s stock, valued at $375,724. The disclosure for this sale can be found here. Insiders have sold 71,407 shares of company stock valued at $9,389,318 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
Tiffany & Co. stock opened at $131.70 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.82 and a quick ratio of 2.43. Tiffany & Co. has a 52-week low of $86.15 and a 52-week high of $141.64. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 31.89, a P/E/G ratio of 2.43 and a beta of 1.79.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings data on Wednesday, May 23rd. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.31. Tiffany & Co. had a return on equity of 17.61% and a net margin of 9.75%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $959.20 million. During the same period in the prior year, the company posted $0.74 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. equities analysts anticipate that Tiffany & Co. will post 4.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.67%. Tiffany & Co.’s dividend payout ratio is currently 53.27%.
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 timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.
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