Capital Growth Management LP Acquires New Stake in Tiffany & Co. (TIF)
Capital Growth Management LP acquired a new stake 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 institutional investor acquired 460,000 shares of the specialty retailer’s stock, valued at approximately $59,326,000. Tiffany & Co. comprises about 3.1% of Capital Growth Management LP’s portfolio, making the stock its 10th largest holding. Capital Growth Management LP owned about 0.38% of Tiffany & Co. at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in TIF. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Tiffany & Co. during the 3rd quarter valued at $103,000. Qube Research & Technologies Ltd raised its stake in Tiffany & Co. by 174.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 998 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 634 shares during the period. Columbia Asset Management acquired a new stake in Tiffany & Co. during the 3rd quarter valued at $132,000. Hall Laurie J Trustee acquired a new stake in Tiffany & Co. during the 2nd quarter valued at $197,000. Finally, Impax Asset Management LLC acquired a new stake in Tiffany & Co. during the 2nd quarter valued at $206,000. Institutional investors own 81.24% of the company’s stock.
NYSE TIF opened at $102.48 on Tuesday. Tiffany & Co. has a 1-year low of $90.55 and a 1-year high of $141.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 6.05. The firm has a market capitalization of $13.04 billion, a PE ratio of 24.81, a P/E/G ratio of 1.94 and a beta of 1.80.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Thursday, December 20th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Wednesday, December 19th. Tiffany & Co.’s dividend payout ratio (DPR) is presently 53.27%.
Several analysts have issued reports on TIF shares. Oppenheimer downgraded shares of Tiffany & Co. from an “outperform” rating to a “market perform” rating and set a $145.00 target price on the stock. in a research note on Friday, August 10th. CIBC raised shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 12th. Zacks Investment Research downgraded shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. UBS Group raised shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 12th. Finally, Loop Capital set a $155.00 target price on shares of Tiffany & Co. and gave the company a “buy” rating in a research note on Tuesday, August 28th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $131.75.
In other Tiffany & Co. news, Director Francesco Trapani bought 40,000 shares of the stock in a transaction on Friday, September 7th. The shares were purchased at an average cost of $124.25 per share, with a total value of $4,970,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence K. Fish sold 7,000 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $129.40, for a total transaction of $905,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 60,000 shares of company stock worth $7,435,050 and sold 22,148 shares worth $2,839,461. Corporate insiders own 1.30% of the company’s stock.
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 timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.
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