Nicholas Investment Partners LP Purchases 10,108 Shares of Tiffany & Co. (TIF)

Nicholas Investment Partners LP lifted its position in Tiffany & Co. (NYSE:TIF) by 36.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,524 shares of the specialty retailer’s stock after acquiring an additional 10,108 shares during the quarter. Nicholas Investment Partners LP’s holdings in Tiffany & Co. were worth $3,444,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TIF. QS Investors LLC grew its stake in Tiffany & Co. by 8.2% in the second quarter. QS Investors LLC now owns 1,363 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 103 shares during the last quarter. Welch Group LLC grew its stake in Tiffany & Co. by 0.5% in the second quarter. Welch Group LLC now owns 1,549 shares of the specialty retailer’s stock valued at $145,000 after purchasing an additional 8 shares during the last quarter. Wetherby Asset Management Inc. purchased a new position in Tiffany & Co. in the second quarter valued at about $201,000. Commerce Bank purchased a new position in Tiffany & Co. in the second quarter valued at about $209,000. Finally, Pacer Advisors Inc. grew its stake in Tiffany & Co. by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,267 shares of the specialty retailer’s stock valued at $213,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Several equities analysts have issued reports on the company. Jefferies Group set a $110.00 target price on Tiffany & Co. and gave the company a “buy” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Tiffany & Co. from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, August 14th. Needham & Company LLC reiterated a “hold” rating on shares of Tiffany & Co. in a research note on Friday, August 25th. Goldman Sachs Group lowered Tiffany & Co. from a “buy” rating to a “neutral” rating and cut their target price for the company from $106.00 to $94.00 in a research note on Friday, September 22nd. Finally, Oppenheimer reiterated a “buy” rating on shares of Tiffany & Co. in a research note on Friday, October 13th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $98.69.

In other news, Director Francesco Trapani bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were purchased at an average price of $89.34 per share, for a total transaction of $2,233,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $94.16, for a total value of $414,304,000.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Shares of Tiffany & Co. (NYSE:TIF) traded down $0.52 during mid-day trading on Wednesday, hitting $95.02. The stock had a trading volume of 870,100 shares, compared to its average volume of 1,675,360. Tiffany & Co. has a 1-year low of $76.08 and a 1-year high of $98.64. The stock has a market capitalization of $11,873.46, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.22 and a beta of 1.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.44 and a quick ratio of 2.09.

Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings results on Wednesday, November 29th. The specialty retailer reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.04. Tiffany & Co. had a return on equity of 15.77% and a net margin of 11.46%. The business had revenue of $976.20 million for the quarter, compared to analyst estimates of $957.18 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. equities analysts expect that Tiffany & Co. will post 3.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 20th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.10%. Tiffany & Co.’s payout ratio is 53.76%.

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About Tiffany & Co.

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

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