HSBC Holdings plc Upgrades Tiffany & Co. (TIF) to Buy
Tiffany & Co. (NYSE:TIF) was upgraded by research analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating in a report released on Monday.
A number of other equities research analysts have also weighed in on TIF. Bank of America Corporation reissued a “buy” rating and set a $110.00 price objective on shares of Tiffany & Co. in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Tiffany & Co. in a research note on Friday, September 8th. BidaskClub upgraded Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut Tiffany & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Tiffany & Co. in a research report on Sunday, September 17th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Tiffany & Co. presently has a consensus rating of “Buy” and a consensus price target of $93.47.
Shares of Tiffany & Co. (TIF) opened at 91.78 on Monday. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 24.93 and a beta of 1.92. The firm’s 50-day moving average is $90.97 and its 200-day moving average is $91.89. Tiffany & Co. has a 52 week low of $70.86 and a 52 week high of $97.29.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $930.19 million. Tiffany & Co. had a net margin of 11.41% and a return on equity of 15.91%. Tiffany & Co.’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. Analysts forecast that Tiffany & Co. will post $3.97 earnings per share for the current fiscal year.
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In other Tiffany & Co. news, Director Francesco Trapani acquired 25,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were bought at an average cost of $89.34 per share, with a total value of $2,233,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $94.16, for a total value of $414,304,000.00. The disclosure for this sale can be found here. Insiders purchased a total of 267,064 shares of company stock valued at $23,789,094 in the last ninety days. 1.30% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Swiss National Bank lifted its position in shares of Tiffany & Co. by 2.8% during the 2nd quarter. Swiss National Bank now owns 453,348 shares of the specialty retailer’s stock valued at $42,556,000 after buying an additional 12,400 shares in the last quarter. King Luther Capital Management Corp grew its stake in Tiffany & Co. by 0.5% in the 1st quarter. King Luther Capital Management Corp now owns 803,818 shares of the specialty retailer’s stock valued at $76,604,000 after acquiring an additional 4,235 shares during the period. Andra AP fonden grew its stake in Tiffany & Co. by 8.4% in the 2nd quarter. Andra AP fonden now owns 28,500 shares of the specialty retailer’s stock valued at $2,675,000 after acquiring an additional 2,200 shares during the period. Sei Investments Co. grew its stake in Tiffany & Co. by 215.0% in the 2nd quarter. Sei Investments Co. now owns 14,390 shares of the specialty retailer’s stock valued at $1,351,000 after acquiring an additional 9,822 shares during the period. Finally, Palo Capital Inc. increased its holdings in Tiffany & Co. by 1.3% in the 2nd quarter. Palo Capital Inc. now owns 20,347 shares of the specialty retailer’s stock worth $1,910,000 after acquiring an additional 259 shares in the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.
Tiffany & Co. Company Profile
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. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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