Citi Loves These 4 Retail Stocks But Hedge Fund Metric Urges Caution

3. Tiffany & Co. (NYSE:TIF)

– Investors with Long Positions (as of June 30): 33
– Aggregate Value of Investors’ Holdings (as of June 30): $666.8 Million

Even though the number of hedge funds covered by us that were long Tiffany & Co. (NYSE:TIF) came down by four during the second quarter, the aggregate value of their stakes increased by almost 25% during the same period. After cracking hard in January, shares of Tiffany & Co. (NYSE:TIF) remained mostly range bound until July before resuming their downtrend and now trade down by 24% year-to-date. However, analysts at Citi see this downtrend as a great opportunity to get in the stock at a discounted price and expect the company’s free cash flow and great brand name to help the stock reach their price target of $98, which represents nearly 20% upside. On October 8, analysts at Oppenheimer also reiterated their ‘Buy’ rating on the stock. Having increased its stake by 146% to 2.19 million shares during the second quarter, Ken Griffin‘s Citadel Investment Group was the largest shareholder of the company as of June 30, among the funds we cover.