Cubist Systematic Strategies LLC raised its stake in shares of Tiffany & Co. (NYSE:TIF) by 238.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,077 shares of the specialty retailer’s stock after buying an additional 10,618 shares during the period. Cubist Systematic Strategies LLC’s holdings in Tiffany & Co. were worth $1,984,000 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 business. CIBC Asset Management Inc raised its stake in Tiffany & Co. by 3.4% during the 2nd quarter. CIBC Asset Management Inc now owns 11,784 shares of the specialty retailer’s stock valued at $1,551,000 after buying an additional 387 shares during the last quarter. Townsend & Associates Inc raised its stake in Tiffany & Co. by 6.0% during the 2nd quarter. Townsend & Associates Inc now owns 7,056 shares of the specialty retailer’s stock valued at $929,000 after buying an additional 400 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Tiffany & Co. by 2.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 22,389 shares of the specialty retailer’s stock valued at $2,946,000 after buying an additional 498 shares during the last quarter. Comerica Bank raised its stake in Tiffany & Co. by 2.3% during the 2nd quarter. Comerica Bank now owns 25,354 shares of the specialty retailer’s stock valued at $3,405,000 after buying an additional 563 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in Tiffany & Co. by 1.1% during the 2nd quarter. Voya Investment Management LLC now owns 54,225 shares of the specialty retailer’s stock valued at $7,136,000 after buying an additional 569 shares during the last quarter. Institutional investors and hedge funds own 79.68% of the company’s stock.

A number of equities research analysts have weighed in on TIF shares. ValuEngine upgraded shares of Tiffany & Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, May 23rd. Loop Capital upped their price objective on Tiffany & Co. from $113.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, May 23rd. Citigroup upped their price objective on Tiffany & Co. to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 24th. Goldman Sachs Group began coverage on Tiffany & Co. in a research note on Monday, June 25th. They issued a “buy” rating and a $165.00 price objective for the company. Finally, Jefferies Financial Group restated a “buy” rating and issued a $160.00 price objective on shares of Tiffany & Co. in a research note on Tuesday, August 28th. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Tiffany & Co. presently has an average rating of “Buy” and an average target price of $131.00.

Shares of Tiffany & Co. stock opened at $128.69 on Friday. The firm has a market capitalization of $15.27 billion, a P/E ratio of 31.16, a PEG ratio of 2.28 and a beta of 1.74. The company has a quick ratio of 2.09, a current ratio of 6.05 and a debt-to-equity ratio of 0.29. Tiffany & Co. has a fifty-two week low of $86.15 and a fifty-two week high of $141.64.

Tiffany & Co. (NYSE:TIF) last issued its earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.16. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. Tiffany & Co. had a net margin of 10.16% and a return on equity of 18.67%. Tiffany & Co.’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. sell-side analysts forecast that Tiffany & Co. will post 4.79 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Thursday, September 20th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, September 19th. Tiffany & Co.’s dividend payout ratio is currently 53.27%.

In related news, EVP Philippe Galtie sold 673 shares of the company’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $135.25, for a total value of $91,023.25. Following the completion of the transaction, the executive vice president now owns 2,866 shares of the company’s stock, valued at approximately $387,626.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Francesco Trapani bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was purchased at an average cost of $122.96 per share, with a total value of $1,844,400.00. The disclosure for this purchase can be found here. Insiders purchased a total of 60,000 shares of company stock valued at $7,435,050 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Tiffany & Co. 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 timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.

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

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