Ruane Cunniff Goldfarb Inc Lowers stake in Tiffany & Co. (TIF)

Tiffany & Co. (TIF) : Ruane Cunniff Goldfarb Inc reduced its stake in Tiffany & Co. by 4.16% during the most recent quarter end. The investment management company now holds a total of 1,989,625 shares of Tiffany & Co. which is valued at $123,038,410 after selling 86,275 shares in Tiffany & Co. , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Tiffany & Co. makes up approximately 1.14% of Ruane Cunniff Goldfarb Inc’s portfolio.

Other Hedge Funds, Including , Independent Portfolio Consultants boosted its stake in TIF in the latest quarter, The investment management firm added 310 additional shares and now holds a total of 793 shares of Tiffany & Co. which is valued at $49,039. Tiffany & Co. makes up approx 0.01% of Independent Portfolio Consultants’s portfolio.British Columbia Investment Management Corp reduced its stake in TIF by selling 17,497 shares or 25.58% in the most recent quarter. The Hedge Fund company now holds 50,892 shares of TIF which is valued at $3,122,224. Tiffany & Co. makes up approx 0.03% of British Columbia Investment Management Corp’s portfolio. Washington Trust Bank added TIF to its portfolio by purchasing 31 company shares during the most recent quarter which is valued at $1,902.

Tiffany & Co. opened for trading at $61.3 and hit $62.0598 on the upside on Monday, eventually ending the session at $61.84, with a gain of 0.88% or 0.54 points. The heightened volatility saw the trading volume jump to 11,09,897 shares. Company has a market cap of $7,793 M.

On the company’s financial health, Tiffany & Co. reported $0.64 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 25, 2016. Analyst had a consensus of $0.68. The company had revenue of $891.30 million for the quarter, compared to analysts expectations of $914.97 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.81 EPS.

Many Wall Street Analysts have commented on Tiffany & Co.. Shares were Reiterated by RBC Capital Mkts on Jul 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 65 from a previous price target of $68 .Shares were Reiterated by Mizuho on May 26, 2016 to “Buy” and Lowered the Price Target to $ 72 from a previous price target of $80 .Shares were Reiterated by RBC Capital Mkts on May 26, 2016 to “Sector Perform” and Lowered the Price Target to $ 68 from a previous price target of $72 .

Tiffany & Co. is a holding company. The Company operates through its subsidiary companies. The Company’s principal product category is jewelry. The Company also sells timepieces leather goods sterling silver goods (other than jewelry) china crystal stationery fragrances and accessories. Its brands include TIFFANY and TIFFANY & CO. as well as the TIFFANY BLUE BOX. Its segments include Americas Asia-Pacific Japan Europe and Other. It operates e-commerce enabled Websites in 13 countries as well as informational Websites in various additional countries.

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