Morse Asset Management Inc Has $1.34 Million Position in Tiffany & Co. (TIF)
Morse Asset Management Inc lowered its position in shares of Tiffany & Co. (NYSE:TIF) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,880 shares of the specialty retailer’s stock after selling 2,370 shares during the period. Morse Asset Management Inc’s holdings in Tiffany & Co. were worth $1,339,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of TIF. Janus Henderson Group PLC boosted its holdings in Tiffany & Co. by 9,785.1% in the second quarter. Janus Henderson Group PLC now owns 1,212,501 shares of the specialty retailer’s stock worth $113,818,000 after purchasing an additional 1,200,235 shares during the last quarter. Cramer Rosenthal Mcglynn LLC boosted its holdings in Tiffany & Co. by 300.5% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 1,321,842 shares of the specialty retailer’s stock worth $121,319,000 after purchasing an additional 991,802 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Tiffany & Co. by 22.4% in the third quarter. Victory Capital Management Inc. now owns 2,247,321 shares of the specialty retailer’s stock worth $206,259,000 after purchasing an additional 411,487 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Tiffany & Co. by 189.4% in the third quarter. APG Asset Management N.V. now owns 557,730 shares of the specialty retailer’s stock worth $51,188,000 after purchasing an additional 365,000 shares during the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new stake in Tiffany & Co. in the third quarter worth approximately $20,651,000. Institutional investors own 81.18% of the company’s stock.
Shares of Tiffany & Co. (NYSE:TIF) traded down $0.41 during trading on Monday, hitting $109.30. 515,586 shares of the stock traded hands, compared to its average volume of 1,611,776. The stock has a market cap of $13,634.47, a PE ratio of 29.37, a PEG ratio of 2.40 and a beta of 1.93. Tiffany & Co. has a 1-year low of $77.15 and a 1-year high of $111.44. The company has a quick ratio of 2.09, a current ratio of 5.44 and a debt-to-equity ratio of 0.28.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Wednesday, December 20th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, December 19th. Tiffany & Co.’s dividend payout ratio (DPR) is 53.76%.
In related news, insider Andrew W. Hart sold 40,251 shares of Tiffany & Co. stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $109.22, for a total transaction of $4,396,214.22. Following the transaction, the insider now owns 22,369 shares in the company, valued at approximately $2,443,142.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Philippe Galtie sold 24,758 shares of Tiffany & Co. stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $109.79, for a total transaction of $2,718,180.82. Following the transaction, the senior vice president now owns 10,813 shares in the company, valued at approximately $1,187,159.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,569 shares of company stock worth $9,896,046. 1.30% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on the stock. Oppenheimer restated a “buy” rating on shares of Tiffany & Co. in a report on Wednesday, January 24th. Royal Bank of Canada raised their target price on shares of Tiffany & Co. to $108.00 and gave the stock a “sector perform” rating in a report on Thursday, January 18th. They noted that the move was a valuation call. Wells Fargo & Co restated a “hold” rating on shares of Tiffany & Co. in a report on Wednesday, January 17th. JPMorgan Chase & Co. assumed coverage on shares of Tiffany & Co. in a report on Monday, December 18th. They issued a “neutral” rating and a $103.00 target price on the stock. Finally, Citigroup upgraded shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $92.00 to $115.00 in a report on Thursday, December 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Tiffany & Co. currently has an average rating of “Buy” and an average target price of $102.00.
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Tiffany & Co. Company 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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