Jacobi Capital Management LLC Reduces Position in Tiffany & Co. (NYSE:TIF)

Jacobi Capital Management LLC decreased its stake in shares of Tiffany & Co. (NYSE:TIF) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,616 shares of the specialty retailer’s stock after selling 99 shares during the quarter. Jacobi Capital Management LLC’s holdings in Tiffany & Co. were worth $1,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Macquarie Group Ltd. raised its holdings in shares of Tiffany & Co. by 325.0% in the 4th quarter. Macquarie Group Ltd. now owns 1,700 shares of the specialty retailer’s stock valued at $132,000 after purchasing an additional 1,300 shares in the last quarter. Nationwide Fund Advisors raised its holdings in shares of Tiffany & Co. by 4.0% in the 1st quarter. Nationwide Fund Advisors now owns 30,396 shares of the specialty retailer’s stock valued at $2,897,000 after purchasing an additional 1,156 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Tiffany & Co. by 35.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,506 shares of the specialty retailer’s stock valued at $620,000 after purchasing an additional 1,711 shares in the last quarter. Shell Asset Management Co. raised its holdings in shares of Tiffany & Co. by 0.7% in the 1st quarter. Shell Asset Management Co. now owns 8,681 shares of the specialty retailer’s stock valued at $827,000 after purchasing an additional 57 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Tiffany & Co. by 23.5% in the 1st quarter. Strs Ohio now owns 14,309 shares of the specialty retailer’s stock valued at $1,363,000 after purchasing an additional 2,727 shares in the last quarter. Institutional investors own 79.76% of the company’s stock.

Several equities research analysts have recently commented on the stock. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Tiffany & Co. in a report on Friday, September 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tiffany & Co. in a research report on Friday, August 25th. Zacks Investment Research downgraded shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC set a $110.00 price objective on shares of Tiffany & Co. and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, BidaskClub downgraded shares of Tiffany & Co. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $92.81.

Tiffany & Co. (NYSE TIF) traded down 0.81% during trading on Friday, reaching $90.21. 1,162,150 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $91.45 and a 200 day moving average price of $91.91. Tiffany & Co. has a 52 week low of $70.55 and a 52 week high of $97.29. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 24.50 and a beta of 1.91.

Tiffany & Co. (NYSE:TIF) last issued its earnings results on Thursday, August 24th. The specialty retailer reported $0.92 EPS 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 analyst estimates of $930.19 million. Tiffany & Co. had a net margin of 11.41% and a return on equity of 15.91%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. Equities research analysts forecast that Tiffany & Co. will post $3.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Wednesday, September 20th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 19th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 54.35%.

In other news, Director Francesco Trapani bought 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average price of $89.34 per share, with a total value of $3,126,900.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $94.16, for a total transaction of $414,304,000.00. The disclosure for this sale can be found here. Insiders have bought a total of 241,064 shares of company stock valued at $21,467,464 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

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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. 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.

Institutional Ownership by Quarter for Tiffany & Co. (NYSE:TIF)

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