Daiwa Securities Group Inc. cut its position in shares of Tiffany & Co. (NYSE:TIF) by 89.5% during the second quarter, Holdings Channel reports. The firm owned 6,050 shares of the specialty retailer’s stock after selling 51,315 shares during the period. Daiwa Securities Group Inc.’s holdings in Tiffany & Co. were worth $568,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in Tiffany & Co. by 6.0% in the first quarter. Fifth Third Bancorp now owns 1,090 shares of the specialty retailer’s stock worth $104,000 after buying an additional 62 shares during the period. Delphi Private Advisors LLC raised its position in Tiffany & Co. by 100.0% in the second quarter. Delphi Private Advisors LLC now owns 1,200 shares of the specialty retailer’s stock worth $100,000 after buying an additional 600 shares during the period. IFP Advisors Inc raised its position in Tiffany & Co. by 66.9% in the first quarter. IFP Advisors Inc now owns 1,237 shares of the specialty retailer’s stock worth $118,000 after buying an additional 496 shares during the period. Advisory Services Network LLC purchased a new position in Tiffany & Co. during the first quarter worth about $133,000. Finally, Welch Group LLC raised its position in Tiffany & Co. by 0.6% in the first quarter. Welch Group LLC now owns 1,541 shares of the specialty retailer’s stock worth $147,000 after buying an additional 9 shares during the period. Institutional investors own 81.06% of the company’s stock.

Tiffany & Co. (NYSE TIF) opened at 90.29 on Friday. The firm has a 50-day moving average price of $92.96 and a 200-day moving average price of $90.48. Tiffany & Co. has a 12-month low of $66.35 and a 12-month high of $97.29. The stock has a market cap of $11.25 billion, a PE ratio of 25.07 and a beta of 1.92.

Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, May 24th. The specialty retailer reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The business had revenue of $899.60 million for the quarter, compared to the consensus estimate of $915.48 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.26%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Analysts forecast that Tiffany & Co. will post $3.96 EPS for the current fiscal year.

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A number of research firms have issued reports on TIF. BidaskClub lowered shares of Tiffany & Co. from a “strong-buy” rating to a “buy” rating in a report on Thursday. Citigroup Inc. dropped their price objective on shares of Tiffany & Co. from $91.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. set a $105.00 price objective on shares of Tiffany & Co. and gave the company a “buy” rating in a research note on Wednesday, May 24th. Goldman Sachs Group, Inc. (The) dropped their price objective on shares of Tiffany & Co. from $107.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Tiffany & Co. in a research note on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. Tiffany & Co. has a consensus rating of “Buy” and a consensus target price of $92.36.

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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