Shell Asset Management Co. Has $774,000 Position in Tiffany & Co. (TIF)
Shell Asset Management Co. decreased its stake in shares of Tiffany & Co. (NYSE:TIF) by 5.0% during the second quarter, Holdings Channel reports. The fund owned 8,247 shares of the specialty retailer’s stock after selling 434 shares during the period. Shell Asset Management Co.’s holdings in Tiffany & Co. were worth $774,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Tiffany & Co. by 2,886.2% in the first quarter. BlackRock Inc. now owns 6,980,800 shares of the specialty retailer’s stock valued at $665,271,000 after buying an additional 6,747,028 shares during the last quarter. Investec Asset Management LTD increased its position in 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 valued at $195,746,000 after buying an additional 949,105 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Tiffany & Co. during the first quarter valued at about $39,206,000. MARSHALL WACE ASIA Ltd acquired a new position in Tiffany & Co. during the first quarter valued at about $24,716,000. Finally, Vanguard Group Inc. increased its position in Tiffany & Co. by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,918,876 shares of the specialty retailer’s stock valued at $1,135,869,000 after buying an additional 177,418 shares during the last quarter. 81.06% of the stock is owned by hedge funds and other institutional investors.
Shares of Tiffany & Co. (NYSE TIF) opened at 89.34 on Friday. The company has a market capitalization of $11.14 billion, a P/E ratio of 24.80 and a beta of 1.92. The firm has a 50-day moving average of $92.99 and a 200 day moving average of $90.40. Tiffany & Co. has a 1-year low of $66.19 and a 1-year high of $97.29.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, May 24th. The specialty retailer reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.91%. The business had revenue of $899.60 million during the quarter, compared to analyst estimates of $915.48 million. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts expect that Tiffany & Co. will post $3.96 earnings per share for the current year.
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TIF has been the subject of several analyst reports. 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 shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and raised their price target for the company from $82.00 to $107.00 in a research note on Friday, May 12th. Bank of America Corporation reaffirmed a “buy” rating and set a $110.00 price target on shares of Tiffany & Co. in a research note on Wednesday, June 28th. Cowen and Company reaffirmed an “outperform” rating and set a $107.00 price target on shares of Tiffany & Co. in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research downgraded shares of Tiffany & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus 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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