IFM Investors Pty Ltd purchased a new position in shares of Tiffany & Co. (NYSE:TIF) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,645 shares of the specialty retailer’s stock, valued at approximately $335,000.
A number of other hedge funds have also made changes to their positions in TIF. State of New Jersey Common Pension Fund D acquired a new position in Tiffany & Co. during the 2nd quarter worth $1,408,000. Sei Investments Co. boosted its position in Tiffany & Co. by 215.0% during the 2nd quarter. Sei Investments Co. now owns 14,390 shares of the specialty retailer’s stock worth $1,351,000 after acquiring an additional 9,822 shares during the period. Beach Investment Management LLC. acquired a new position in Tiffany & Co. during the 2nd quarter worth $795,000. Schwab Charles Investment Management Inc. boosted its position in Tiffany & Co. by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 364,115 shares of the specialty retailer’s stock worth $34,180,000 after acquiring an additional 8,017 shares during the period. Finally, Arizona State Retirement System boosted its position in Tiffany & Co. by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 26,747 shares of the specialty retailer’s stock worth $2,511,000 after acquiring an additional 300 shares during the period. Institutional investors own 81.19% of the company’s stock.
Tiffany & Co. (NYSE:TIF) opened at $101.34 on Monday. Tiffany & Co. has a 12-month low of $76.08 and a 12-month high of $101.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 5.44. The firm has a market capitalization of $12,594.36, a PE ratio of 25.92, a P/E/G ratio of 2.36 and a beta of 1.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 20th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.97%. Tiffany & Co.’s dividend payout ratio is presently 53.76%.
A number of research firms have recently commented on TIF. J P Morgan Chase & Co began coverage on Tiffany & Co. in a research note on Monday. They issued a “neutral” rating and a $103.00 price objective on the stock. Citigroup raised Tiffany & Co. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $115.00 in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Tiffany & Co. in a research note on Tuesday, October 17th. KeyCorp raised Tiffany & Co. from a “sector weight” rating to an “overweight” rating and boosted their target price for the stock from $94.50 to $115.00 in a research report on Friday, December 1st. Finally, Cowen set a $102.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $100.53.
In other news, Director Robert S. Singer purchased 1,000 shares of the business’s stock in a transaction on Monday, September 25th. The stock was purchased at an average price of $88.13 per share, with a total value of $88,130.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Francesco Trapani purchased 25,000 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was purchased at an average cost of $89.34 per share, with a total value of $2,233,500.00. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.
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Tiffany & Co. 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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