Qatar has upped its majority stake in American jewelry retailer Tiffany from 5.2 percent to 7.8 percent, regulatory filings show.
According to paperwork filed with the US Securities and Exchange Commission this week, the Qatar Investment Authority now owns nearly 10 million shares in the company.
In the past year and a half, the sovereign wealth fund, which is estimated to be worth more than $200 billion, has also invested in UK’s the Shard, France’s LVHM and Paris Champ Elysees and Germany’s Porsche.
According to TheStreet.com, Tiffany has reported somewhat volatile earnings recently. It has maintained high gross profit margins compared to industry competitors this year, but is down from last year, FashionUnited states.
Analysts have alternatively recommended this quarter that investors buy or hold the stock.
Credit: Photo courtesy of Tiffany on Facebook