Nordea Investment Management AB Cuts Stock Position in Tiffany & Co. (NYSE:TIF)

Nordea Investment Management AB reduced its stake in shares of Tiffany & Co. (NYSE:TIF) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,391 shares of the specialty retailer’s stock after selling 19,992 shares during the period. Nordea Investment Management AB owned 0.13% of Tiffany & Co. worth $16,928,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC raised its position in shares of Tiffany & Co. by 0.7% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 16,485 shares of the specialty retailer’s stock valued at $1,740,000 after buying an additional 118 shares during the last quarter. Mission Wealth Management LP increased its stake in Tiffany & Co. by 5.2% in the fourth quarter. Mission Wealth Management LP now owns 2,832 shares of the specialty retailer’s stock valued at $228,000 after acquiring an additional 141 shares during the period. Advisor Partners LLC increased its stake in Tiffany & Co. by 3.5% in the first quarter. Advisor Partners LLC now owns 4,341 shares of the specialty retailer’s stock valued at $458,000 after acquiring an additional 146 shares during the period. Comerica Bank increased its stake in Tiffany & Co. by 0.7% in the fourth quarter. Comerica Bank now owns 21,117 shares of the specialty retailer’s stock valued at $1,850,000 after acquiring an additional 149 shares during the period. Finally, ETF Managers Group LLC increased its stake in Tiffany & Co. by 11.2% in the first quarter. ETF Managers Group LLC now owns 1,480 shares of the specialty retailer’s stock valued at $156,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 87.80% of the company’s stock.

In other Tiffany & Co. news, Director Abby F. Kohnstamm sold 11,912 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $90.70, for a total value of $1,080,418.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Francesco Trapani sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $92.10, for a total value of $23,025,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 264,577 shares of company stock valued at $24,346,681. 1.30% of the stock is currently owned by corporate insiders.

NYSE:TIF traded up $0.53 during mid-day trading on Friday, reaching $94.66. The company’s stock had a trading volume of 1,508,014 shares, compared to its average volume of 1,360,384. The firm’s fifty day simple moving average is $92.36. The stock has a market capitalization of $11.49 billion, a PE ratio of 20.49, a P/E/G ratio of 1.75 and a beta of 1.56. Tiffany & Co. has a 12-month low of $73.04 and a 12-month high of $141.64. The company has a current ratio of 4.17, a quick ratio of 1.36 and a debt-to-equity ratio of 0.58.

Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Tuesday, June 4th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Tiffany & Co. had a return on equity of 18.11% and a net margin of 12.90%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, sell-side analysts anticipate that Tiffany & Co. will post 4.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Thursday, June 20th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, June 19th. This is an increase from Tiffany & Co.’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.45%. Tiffany & Co.’s payout ratio is 50.22%.

TIF has been the topic of several research analyst reports. Credit Suisse Group set a $155.00 price objective on shares of Allergan and gave the stock a “hold” rating in a research note on Monday, March 25th. Bank of America increased their price target on shares of Altria Group from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. HSBC set a $122.00 price target on shares of Tiffany & Co. and gave the company a “buy” rating in a research note on Friday, June 14th. UBS Group set a $210.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, Loop Capital initiated coverage on shares of SpartanNash in a research note on Tuesday, June 25th. They set a “buy” rating and a $15.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $112.93.

About Tiffany & Co.

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

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