March 6, 2013 / 11:27 PM / 5 years ago

Qatar Investment Authority raises stake in Tiffany

March 6 (Reuters) - Qatar’s sovereign wealth fund, the largest shareholder of Tiffany & Co, further raised its stake in the U.S. luxury jeweler to 11.27 percent, according to a regulatory filing.

Qatar Investment Authority, which first disclosed a 5.2 percent stake in Tiffany last April, had raised its holding in the company to 8.7 percent last month.

Vanguard Group Inc, the largest U.S. mutual fund company, and Capital World Investors, a unit of Capital Group Companies Inc, are the next biggest shareholders of Tiffany’s as of Dec. 31.

Tiffany, famed for its blue boxes and its Fifth Avenue flagship in Manhattan, said in January that worldwide sales at stores open at least a year were flat in November and December, a period that can account for one-third of jewelers’ annual sales and almost half of profit.

The company is scheduled to report its fourth-quarter results later this month.

Tiffany shares, which have risen more than 22 percent this year, closed at $70.06 on the New York Stock Exchange on Wednesday.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below