First Eagle Investment Management LLC Cuts Holdings in Tiffany & Co. (TIF)

First Eagle Investment Management LLC cut its stake in Tiffany & Co. (NYSE:TIF) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,854,513 shares of the specialty retailer’s stock after selling 286,477 shares during the quarter. First Eagle Investment Management LLC owned 3.10% of Tiffany & Co. worth $353,767,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TIF. Thrivent Financial For Lutherans increased its stake in shares of Tiffany & Co. by 6.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 3,930 shares of the specialty retailer’s stock valued at $375,000 after acquiring an additional 230 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Tiffany & Co. in the 1st quarter valued at about $338,000. Xact Kapitalforvaltning AB increased its stake in shares of Tiffany & Co. by 5.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 14,342 shares of the specialty retailer’s stock valued at $1,346,000 after acquiring an additional 765 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in Tiffany & Co. by 37.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 55,839 shares of the specialty retailer’s stock worth $5,241,000 after purchasing an additional 15,147 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Tiffany & Co. by 67.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,733 shares of the specialty retailer’s stock worth $819,000 after purchasing an additional 3,510 shares in the last quarter. 79.42% of the stock is owned by institutional investors.

Tiffany & Co. (NYSE TIF) traded up $0.57 during trading on Monday, reaching $91.57. The company’s stock had a trading volume of 1,813,500 shares, compared to its average volume of 1,669,616. Tiffany & Co. has a 1 year low of $75.33 and a 1 year high of $97.29. The company has a market capitalization of $11,401.58, a PE ratio of 23.66, a PEG ratio of 2.15 and a beta of 1.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.29 and a current ratio of 5.75.

Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.06. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The firm had revenue of $960.00 million for the quarter, compared to analyst estimates of $930.19 million. During the same period last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. research analysts forecast that Tiffany & Co. will post 3.95 earnings per share for the current year.

In related news, Director Francesco Trapani acquired 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were bought at an average cost of $89.34 per share, with a total value of $3,126,900.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert S. Singer acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was bought at an average cost of $88.13 per share, for a total transaction of $88,130.00. The disclosure for this purchase can be found here. Insiders have bought 267,064 shares of company stock worth $23,789,094 over the last three months. Insiders own 1.30% of the company’s stock.

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TIF has been the subject of a number of research reports. Needham & Company LLC initiated coverage on Tiffany & Co. in a research note on Tuesday, July 18th. They set a “hold” rating for the company. BidaskClub raised Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised Tiffany & Co. from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, August 14th. Jefferies Group LLC set a $110.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Finally, Oppenheimer Holdings, Inc. set a $105.00 target price on Tiffany & Co. and gave the stock a “buy” rating in a research note on Thursday, August 24th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Tiffany & Co. has a consensus rating of “Hold” and an average target price of $94.91.

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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Institutional Ownership by Quarter for Tiffany & Co. (NYSE:TIF)

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