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Friday, July 29, 2016

Latest Buy Tiffany & Co.

Buying on a budget isn't fun. But I had enough for one share of Tiffany & Co. (TIF) and I couldn't pass it up.

Here is what attracted me to this buy.

1.  It is greatly under valued. I bought in at 63.40 while Tiffany 52 week high is 96.43. So I got it at two thirds the price it was trading at earlier this year. This company has been around since 1897. I don't believe it is going anywhere. There will always be a need for diamonds and high end jewelry.

2. It seems that the major banks also see a lot of room for growth. Tiffany's currently has a 97% institutional own rate. The consensus price target is $74 per share. Seven banks currently have strong buy recommendations.

3. Tiffany's holds a solid 2.84 Dividend yield and a low P/E rate of 18.2.

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