InterOcean Capital LLC Reduced Holding in Tiffany & Co. (TIF)

InterOcean Capital LLC Reduced Holding in Tiffany & Co. (TIF)

InterOcean Capital LLC cut its stake in Tiffany & Co. (NYSE:TIF) by 83.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,129 shares of the specialty retailer’s stock after selling 20,319 shares during the period. InterOcean Capital LLC’s holdings in Tiffany & Co. were worth $394,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tiffany & Co. during the fourth quarter valued at $124,477,000. Investec Asset Management LTD purchased a new stake in shares of Tiffany & Co. during the fourth quarter valued at $85,552,000. Franklin Resources Inc. raised its stake in shares of Tiffany & Co. by 25.6% in the fourth quarter. Franklin Resources Inc. now owns 4,284,780 shares of the specialty retailer’s stock valued at $331,771,000 after buying an additional 874,396 shares during the period. FMR LLC raised its stake in shares of Tiffany & Co. by 13.9% in the fourth quarter. FMR LLC now owns 2,446,337 shares of the specialty retailer’s stock valued at $189,420,000 after buying an additional 299,036 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Tiffany & Co. during the fourth quarter valued at $20,902,000. 86.38% of the stock is owned by institutional investors.

Tiffany & Co. (NYSE:TIF) traded up 0.84% during mid-day trading on Friday, reaching $89.99. The company had a trading volume of 3,115,325 shares. Tiffany & Co. has a 1-year low of $56.99 and a 1-year high of $97.29. The company has a market capitalization of $11.22 billion, a PE ratio of 24.98 and a beta of 1.89. The firm has a 50-day moving average of $91.13 and a 200 day moving average of $85.94.

Tiffany & Co. (NYSE:TIF) last released its quarterly earnings results on Wednesday, May 24th. The specialty retailer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.04. The business had revenue of $899.60 million during the quarter, compared to analysts’ expectations of $915.48 million. Tiffany & Co. had a return on equity of 15.97% and a net margin of 11.33%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, analysts predict that Tiffany & Co. will post $3.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 10th. Shareholders of record on Tuesday, June 20th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, June 16th. This is a boost from Tiffany & Co.’s previous quarterly dividend of $0.45. Tiffany & Co.’s dividend payout ratio (DPR) is currently 50.42%.

TIF has been the subject of several recent research reports. Credit Suisse Group AG reissued a “buy” rating on shares of Tiffany & Co. in a report on Friday, April 14th. Zacks Investment Research lowered Tiffany & Co. from a “hold” rating to a “sell” rating in a report on Thursday, March 16th. Jefferies Group LLC reaffirmed a “positive” rating and set a $102.00 target price on shares of Tiffany & Co. in a report on Wednesday, March 15th. Cowen and Company reaffirmed an “outperform” rating and set a $91.00 target price on shares of Tiffany & Co. in a report on Wednesday, February 22nd. Finally, Mizuho lowered Tiffany & Co. from a “buy” rating to a “neutral” rating and reduced their target price for the company from $90.00 to $74.00 in a report on Monday, February 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Tiffany & Co. presently has an average rating of “Buy” and a consensus target price of $92.36.

In other Tiffany & Co. news, Director Abby F. Kohnstamm sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $94.91, for a total transaction of $711,825.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Winter Jennifer De sold 927 shares of the firm’s stock in a transaction that occurred on Friday, April 7th. The shares were sold at an average price of $93.60, for a total value of $86,767.20. Following the transaction, the insider now owns 3,325 shares of the company’s stock, valued at approximately $311,220. The disclosure for this sale can be found here. Insiders have sold a total of 90,838 shares of company stock valued at $8,550,648 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TIF”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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