Bourgeon Capital Management LLC cut its position in Tiffany & Co. (NYSE:TIF) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,735 shares of the specialty retailer’s stock after selling 56 shares during the period. Bourgeon Capital Management LLC’s holdings in Tiffany & Co. were worth $257,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Tiffany & Co. by 2,886.2% in the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock worth $665,271,000 after buying an additional 6,747,028 shares during the period. Investec Asset Management LTD increased its stake in shares of Tiffany & Co. by 85.9% in the first quarter. Investec Asset Management LTD now owns 2,053,994 shares of the specialty retailer’s stock worth $195,746,000 after buying an additional 949,105 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Tiffany & Co. during the first quarter worth about $39,206,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Tiffany & Co. during the first quarter worth about $24,716,000. Finally, First Trust Advisors LP increased its stake in shares of Tiffany & Co. by 132.6% in the second quarter. First Trust Advisors LP now owns 348,901 shares of the specialty retailer’s stock worth $32,751,000 after buying an additional 198,883 shares during the period. 81.06% of the stock is owned by institutional investors and hedge funds.
Tiffany & Co. (TIF) opened at 90.29 on Friday. The stock has a 50 day moving average price of $92.96 and a 200 day moving average price of $90.48. The stock has a market cap of $11.25 billion, a PE ratio of 25.07 and a beta of 1.92. Tiffany & Co. has a 52 week low of $66.35 and a 52 week high of $97.29.
Tiffany & Co. (NYSE:TIF) last posted its earnings results on Wednesday, May 24th. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.26%. The business had revenue of $899.60 million during the quarter, compared to analyst estimates of $915.48 million. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts predict that Tiffany & Co. will post $3.96 earnings per share for the current year.
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A number of analysts have issued reports on TIF shares. Credit Suisse Group reaffirmed a “buy” rating on shares of Tiffany & Co. in a research note on Friday, April 14th. Goldman Sachs Group, Inc. (The) raised Tiffany & Co. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $82.00 to $107.00 in a research note on Friday, May 12th. Bank of America Corporation reaffirmed a “buy” rating and issued a $110.00 target price on shares of Tiffany & Co. in a research note on Wednesday, June 28th. Cowen and Company reaffirmed an “outperform” rating and issued a $107.00 target price on shares of Tiffany & Co. in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research downgraded Tiffany & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. Tiffany & Co. has an average rating of “Buy” and an average target price of $92.36.
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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