Sentry Investment Management LLC Increases Stake in Tiffany & Co. (TIF)

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Sentry Investment Management LLC lifted its holdings in shares of Tiffany & Co. (NYSE:TIF) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,542 shares of the specialty retailer’s stock after acquiring an additional 4,639 shares during the period. Sentry Investment Management LLC’s holdings in Tiffany & Co. were worth $4,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall Wace LLP grew its position in shares of Tiffany & Co. by 4,305.5% during the second quarter. Marshall Wace LLP now owns 345,262 shares of the specialty retailer’s stock worth $45,436,000 after acquiring an additional 337,425 shares during the last quarter. Castleark Management LLC purchased a new position in Tiffany & Co. in the 2nd quarter valued at $16,904,000. Nomura Asset Management Co. Ltd. grew its position in Tiffany & Co. by 18.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 59,208 shares of the specialty retailer’s stock valued at $7,792,000 after buying an additional 9,118 shares during the last quarter. Morgan Stanley grew its position in Tiffany & Co. by 49.4% in the 2nd quarter. Morgan Stanley now owns 1,076,833 shares of the specialty retailer’s stock valued at $141,711,000 after buying an additional 355,896 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its position in Tiffany & Co. by 6.2% in the 3rd quarter. Leavell Investment Management Inc. now owns 8,577 shares of the specialty retailer’s stock valued at $1,111,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 79.11% of the company’s stock.

In other Tiffany & Co. news, Director William A. Shutzer sold 250 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $126.29, for a total value of $31,572.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence K. Fish sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $129.40, for a total value of $905,800.00. The disclosure for this sale can be found here. In the last three months, insiders acquired 60,000 shares of company stock valued at $7,435,050 and sold 22,148 shares valued at $2,839,461. 1.30% of the stock is currently owned by company insiders.

Tiffany & Co. stock opened at $109.84 on Friday. Tiffany & Co. has a one year low of $90.46 and a one year high of $141.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.05 and a quick ratio of 2.09. The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 2.10 and a beta of 1.80.

Tiffany & Co. (NYSE:TIF) last released its earnings results on Tuesday, August 28th. The specialty retailer reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. Tiffany & Co. had a return on equity of 18.67% and a net margin of 10.16%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $0.92 earnings per share. Tiffany & Co.’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that Tiffany & Co. will post 4.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, September 19th. Tiffany & Co.’s dividend payout ratio (DPR) is currently 53.27%.

TIF has been the topic of a number of analyst reports. UBS Group upgraded shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 12th. Credit Suisse Group lifted their price objective on shares of Tiffany & Co. from $142.00 to $146.00 and gave the company an “outperform” rating in a research report on Wednesday, August 29th. Oppenheimer lowered shares of Tiffany & Co. from an “outperform” rating to a “market perform” rating and set a $145.00 price objective on the stock. in a research report on Friday, August 10th. Zacks Investment Research upgraded shares of Tiffany & Co. from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research report on Thursday, October 4th. Finally, CIBC upgraded shares of Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 12th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Tiffany & Co. has a consensus rating of “Buy” and an average target price of $131.75.

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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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