Will Tiffany & Co.’s Margins Concern These Top Institutional Shareholders?

Tiffany & Co. (NYSE:TIF) reported a third quarter earnings per share of $0.49 and revenue of $853 million which misses estimates by $0.14 and $4 million, respectively. Sales climbed 4% year-on-year although gross margins were pressured and fell 160 bps to 54.4%. According to Michael J Kowalski, Chairman and Chief Executive Officer, the results suffered from comparison to a very strong previous year performance, weaker than expected margins and higher tax. For the full year, the company expects their EPS of $3.20-$3.40 to be lower than the previous forecast of $3.55-$3.70 on the assumption that global sales will  climb 5 to 6% compared to previously estimated 6 to 7%.

Will Tiffany & Co.’s shareholders decrease their holdings?  They reported owning a total of 116.129 million shares on 09/30/2012. The shares closed at $61.88 on 09/30/2012.

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Here are the ten largest positions in Tiffany & Co. at the end of September 30th, 2012.

Vanguard Group Inc. held 7,136,179 shares on 09/30/2012 worth $441,586,764. This brought the portfolio total to 0.06%.

Harris Associates L.P. held 6,189,069 shares on 09/30/2012 worth $382,979,596. This brought the portfolio total to 0.96%.

Oppenheimer Funds Inc. held 5,917,949 shares on 09/30/2012 worth $366,202,690. This brought the portfolio total to 0.64%.

Capital World Investors held 5,828,000 shares on 09/30/2012 worth $360,636,646. This brought the portfolio total to 0.13%.

State Street Corp. held 4,777,005 shares on 09/30/2012 worth $295,601,075. This brought the portfolio total to 0.04%.

Blackrock Institutional Trust Company N.A. held 3,252,233 shares on 09/30/2012 worth $201,248,182. This brought the portfolio total to 0.05%.

Sac Capital Advisors L.P. held 3,246,942 shares on 09/30/2012 worth $200,920,774. This brought the portfolio total to 0.99%.

J.P Morgan Chase & C.o held 2,558,680 shares on 09/30/2012 worth $158,331,121. This brought the portfolio total to 0.06%.

Davis Selected Advisers held 2,505,538 shares on 09/30/2012 worth $155,042,694. This brought the portfolio total to 0.37%.

Capital Guardian Trust Co. held 2,360,644 shares on 09/30/2012 worth $146,076,653. This brought the portfolio total to 1.11%.

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