Zevin Asset Management Lowers stake in Tiffany & Co. (TIF)

Tiffany & Co. (TIF) : Zevin Asset Management reduced its stake in Tiffany & Co. by 3.1% during the most recent quarter end. The investment management company now holds a total of 39,720 shares of Tiffany & Co. which is valued at $2,631,450 after selling 1,270 shares in Tiffany & Co. , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Tiffany & Co. makes up approximately 0.71% of Zevin Asset Management’s portfolio.

Other Hedge Funds, Including , Feltz Wealth Plan boosted its stake in TIF in the latest quarter, The investment management firm added 41 additional shares and now holds a total of 524 shares of Tiffany & Co. which is valued at $34,715.Cibc World Markets boosted its stake in TIF in the latest quarter, The investment management firm added 6,558 additional shares and now holds a total of 33,617 shares of Tiffany & Co. which is valued at $2,084,254. Tiffany & Co. makes up approx 0.01% of Cibc World Markets’s portfolio.Nordea Investment Management Ab reduced its stake in TIF by selling 14,726 shares or 20.46% in the most recent quarter. The Hedge Fund company now holds 57,258 shares of TIF which is valued at $3,572,327. Tiffany & Co. makes up approx 0.01% of Nordea Investment Management Ab’s portfolio.Investment Counsel reduced its stake in TIF by selling 800 shares or 10.1% in the most recent quarter. The Hedge Fund company now holds 7,124 shares of TIF which is valued at $444,466. Tiffany & Co. makes up approx 0.35% of Investment Counsel’s portfolio.

Tiffany & Co. opened for trading at $67.5 and hit $68.72 on the upside on Monday, eventually ending the session at $67.91, with a gain of 0.89% or 0.6 points. The heightened volatility saw the trading volume jump to 15,65,151 shares. Company has a market cap of $8,558 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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