National Pension Service lifted its stake in Tiffany & Co. (NYSE:TIF) by 6.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 141,459 shares of the specialty retailer’s stock after acquiring an additional 8,545 shares during the quarter. National Pension Service owned 0.12% of Tiffany & Co. worth $12,778,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Colony Group LLC purchased a new position in Tiffany & Co. during the 4th quarter valued at about $210,000. Legal & General Group Plc boosted its position in shares of Tiffany & Co. by 12.4% in the fourth quarter. Legal & General Group Plc now owns 745,919 shares of the specialty retailer’s stock worth $60,010,000 after acquiring an additional 82,326 shares during the last quarter. Sycomore Asset Management acquired a new stake in shares of Tiffany & Co. in the fourth quarter worth approximately $1,855,000. CSat Investment Advisory L.P. lifted its position in Tiffany & Co. by 169.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 334 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 210 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Tiffany & Co. during the fourth quarter valued at approximately $462,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.
Shares of NYSE TIF traded up $0.94 during trading hours on Friday, hitting $107.12. The stock had a trading volume of 1,127,119 shares, compared to its average volume of 1,929,383. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.98 and a beta of 1.56. Tiffany & Co. has a 52 week low of $73.04 and a 52 week high of $141.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.85 and a current ratio of 5.24.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were given a $0.55 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. Tiffany & Co.’s dividend payout ratio is 47.62%.
In other news, Director Lawrence K. Fish sold 8,128 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $103.58, for a total value of $841,898.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Philippe Galtie sold 1,263 shares of the company’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $88.23, for a total value of $111,434.49. Following the completion of the transaction, the insider now owns 6,010 shares of the company’s stock, valued at $530,262.30. The disclosure for this sale can be found here. Insiders sold 16,819 shares of company stock valued at $1,602,466 over the last three months. 1.30% of the stock is owned by company insiders.
A number of research analysts have weighed in on TIF shares. Guggenheim reaffirmed a “buy” rating on shares of Tiffany & Co. in a research report on Friday, January 25th. Bank of America reiterated a “neutral” rating and set a $104.00 price objective (up previously from $95.00) on shares of Tiffany & Co. in a research note on Wednesday, March 20th. Oppenheimer dropped their price target on shares of Tiffany & Co. from $152.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, February 8th. Wells Fargo & Co dropped their price target on shares of Tiffany & Co. from $100.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday, January 2nd. Finally, Credit Suisse Group lifted their price target on shares of Tiffany & Co. from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $116.78.
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Tiffany & Co. Company Profile
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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