Tiffany increases dividend 12% to 38c The board of Tiffany & Co. declared a regular quarterly dividend of 38c per share of common stock, reflecting a 12% increase in the quarterly rate from 34c per share. The dividend will be paid on July 10 to stockholders of record on June 20.
Coach upgraded to Overweight from Equal Weight at Barclays Barclays analyst Joan Payson upgraded Coach to Overweight citing greater confidence in the designer's ability to grow domestic store comps with its turnaround "well underway." She expects Coach's competitive pressures to ease and raised her price target for shares to $50 from $38. The maker of handbags closed yesterday down 28c to $41.76. Payson also lowered her price target for shares of Michael Kors (KORS) to $60 from $70 and keeps an Equal Weight rating on the name. She believes Kors may soon be in need of transformation. The analyst keeps an Equal Weight rating on Tiffany (TIF), calling the company a "work in progress."