Boussard & Gavaudan Investment Management LLP boosted its stake in Tiffany & Co. (NYSE:TIF) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,770 shares of the specialty retailer’s stock after acquiring an additional 26,919 shares during the period. Tiffany & Co. accounts for 1.6% of Boussard & Gavaudan Investment Management LLP’s portfolio, making the stock its 5th largest position. Boussard & Gavaudan Investment Management LLP owned approximately 0.37% of Tiffany & Co. worth $44,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in TIF. Calton & Associates Inc. bought a new position in shares of Tiffany & Co. during the fourth quarter worth about $118,000. Denali Advisors LLC bought a new position in Tiffany & Co. in the 4th quarter valued at about $125,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Tiffany & Co. by 103.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,373 shares of the specialty retailer’s stock valued at $143,000 after buying an additional 697 shares in the last quarter. Mission Wealth Management LP bought a new position in Tiffany & Co. in the 1st quarter valued at about $205,000. Finally, Osborne Partners Capital Management LLC bought a new position in Tiffany & Co. in the 4th quarter valued at about $208,000. Hedge funds and other institutional investors own 83.82% of the company’s stock.
A number of brokerages have weighed in on TIF. Oppenheimer upped their price target on shares of Tiffany & Co. from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Loop Capital raised shares of Tiffany & Co. from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Thursday, April 5th. Guggenheim reissued a “buy” rating on shares of Tiffany & Co. in a research report on Thursday, April 5th. Morgan Stanley increased their price objective on Tiffany & Co. from $83.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, March 19th. Finally, Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Tiffany & Co. in a research report on Monday, March 19th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $108.06.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Friday, March 16th. The specialty retailer reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Tiffany & Co. had a return on equity of 16.32% and a net margin of 8.87%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 EPS. equities analysts expect that Tiffany & Co. will post 4.37 EPS for the current fiscal year.
In other Tiffany & Co. news, Director Francesco Trapani bought 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were acquired at an average cost of $94.66 per share, with a total value of $3,313,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew W. Hart sold 776 shares of the business’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $96.46, for a total value of $74,852.96. Following the transaction, the insider now directly owns 9,695 shares in the company, valued at $935,179.70. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 75,000 shares of company stock worth $7,238,850 and have sold 47,419 shares worth $4,903,374. 1.30% of the stock is owned by insiders.
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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