American Century Companies Inc. Increases Position in Inter Parfums, Inc. (NASDAQ:IPAR)

American Century Companies Inc. boosted its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 453,993 shares of the company's stock after acquiring an additional 85,871 shares during the period. American Century Companies Inc. owned 1.42% of Inter Parfums worth $59,705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its holdings in Inter Parfums by 0.3% during the third quarter. State Street Corp now owns 676,253 shares of the company's stock valued at $87,561,000 after acquiring an additional 2,255 shares during the period. Victory Capital Management Inc. grew its position in shares of Inter Parfums by 55.0% during the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company's stock valued at $74,125,000 after purchasing an additional 200,079 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Inter Parfums by 1.2% in the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company's stock worth $56,481,000 after purchasing an additional 5,056 shares during the last quarter. Wellington Management Group LLP boosted its stake in Inter Parfums by 44.2% during the third quarter. Wellington Management Group LLP now owns 323,863 shares of the company's stock valued at $41,934,000 after buying an additional 99,316 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Inter Parfums by 18.5% during the 4th quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company's stock valued at $42,326,000 after buying an additional 50,247 shares in the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BWS Financial reissued a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, March 17th. Canaccord Genuity Group upped their price objective on Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. DA Davidson restated a "buy" rating and issued a $170.00 price target on shares of Inter Parfums in a report on Tuesday. Finally, Piper Sandler upped their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.80.

Inter Parfums Stock Down 3.5 %

Shares of NASDAQ IPAR traded down $4.23 during trading hours on Friday, hitting $117.26. 334,547 shares of the stock were exchanged, compared to its average volume of 162,253. Inter Parfums, Inc. has a 12 month low of $108.39 and a 12 month high of $148.15. The firm has a fifty day moving average price of $133.44 and a 200-day moving average price of $129.88. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.77 billion, a PE ratio of 25.16 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $361.50 million for the quarter, compared to analysts' expectations of $361.56 million. On average, sell-side analysts expect that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.80 per share. This is an increase from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.73%. Inter Parfums's payout ratio is 62.87%.

Inter Parfums Company Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.