Mission Wealth Management LP Cuts Stock Holdings in Tiffany & Co. (NYSE:TIF)

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Mission Wealth Management LP lowered its stake in shares of Tiffany & Co. (NYSE:TIF) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,943 shares of the specialty retailer’s stock after selling 395 shares during the quarter. Mission Wealth Management LP’s holdings in Tiffany & Co. were worth $273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TIF. Vanguard Group Inc. boosted its stake in shares of Tiffany & Co. by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 13,010,071 shares of the specialty retailer’s stock valued at $1,218,264,000 after purchasing an additional 134,754 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Tiffany & Co. by 246.0% in the 2nd quarter. Bank of America Corp DE now owns 5,486,764 shares of the specialty retailer’s stock valued at $513,780,000 after purchasing an additional 3,901,101 shares in the last quarter. Egerton Capital UK LLP boosted its stake in shares of Tiffany & Co. by 53.3% in the 2nd quarter. Egerton Capital UK LLP now owns 4,752,571 shares of the specialty retailer’s stock valued at $445,031,000 after purchasing an additional 1,652,151 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Tiffany & Co. by 5.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,086,887 shares of the specialty retailer’s stock valued at $382,696,000 after purchasing an additional 214,139 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Tiffany & Co. by 468.5% in the 2nd quarter. Invesco Ltd. now owns 3,130,384 shares of the specialty retailer’s stock valued at $293,129,000 after purchasing an additional 2,579,697 shares in the last quarter. Hedge funds and other institutional investors own 90.68% of the company’s stock.

Shares of NYSE TIF traded up $0.67 during trading hours on Friday, hitting $125.67. The company had a trading volume of 4,561,405 shares, compared to its average volume of 2,017,384. The stock has a market capitalization of $15.09 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 2.35 and a beta of 1.66. The company has a quick ratio of 1.36, a current ratio of 4.22 and a debt-to-equity ratio of 0.58. Tiffany & Co. has a 1-year low of $73.04 and a 1-year high of $130.40. The firm’s 50 day moving average is $99.57 and its 200-day moving average is $94.87.

Tiffany & Co. (NYSE:TIF) last released its quarterly earnings data on Wednesday, August 28th. The specialty retailer reported $1.12 EPS for the quarter, beating the consensus estimate of $1.05 by $0.07. Tiffany & Co. had a return on equity of 17.67% and a net margin of 12.79%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm posted $1.17 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Tiffany & Co. will post 4.81 earnings per share for the current year.

Several research analysts recently issued reports on TIF shares. Deutsche Bank downgraded shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Cowen boosted their price objective on Tiffany & Co. from $107.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group dropped their price objective on Tiffany & Co. from $98.00 to $89.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Sanford C. Bernstein cut Tiffany & Co. from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group cut Tiffany & Co. from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a research note on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $116.95.

Tiffany & Co. Company 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 watches, home and accessories products, eyewear, and fragrances; and wholesales diamonds and earnings.

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

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