Bessemer Group Inc. boosted its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 42.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,171 shares of the company's stock after acquiring an additional 42,225 shares during the period. Bessemer Group Inc. owned 0.44% of Inter Parfums worth $18,698,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Inter Parfums during the fourth quarter valued at approximately $39,070,000. Legal & General Group Plc grew its position in Inter Parfums by 7.9% during the fourth quarter. Legal & General Group Plc now owns 53,264 shares of the company's stock worth $7,005,000 after buying an additional 3,911 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Inter Parfums by 4.1% during the 4th quarter. Invesco Ltd. now owns 362,518 shares of the company's stock worth $47,675,000 after acquiring an additional 14,254 shares during the period. Bank of Montreal Can boosted its stake in shares of Inter Parfums by 4.9% in the 4th quarter. Bank of Montreal Can now owns 6,068 shares of the company's stock valued at $798,000 after purchasing an additional 283 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in shares of Inter Parfums in the fourth quarter valued at $239,000. Institutional investors and hedge funds own 55.57% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on IPAR. DA Davidson reaffirmed a "buy" rating and issued a $170.00 price target on shares of Inter Parfums in a research note on Tuesday, March 25th. Canaccord Genuity Group increased their price objective on Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, BWS Financial restated a "buy" rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, March 17th. One 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, Inter Parfums has an average rating of "Moderate Buy" and an average target price of $162.80.
Get Our Latest Analysis on IPAR
Inter Parfums Price Performance
Shares of IPAR traded down $1.78 during trading hours on Wednesday, reaching $102.84. 28,117 shares of the stock traded hands, compared to its average volume of 173,351. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The company's 50-day moving average price is $123.86 and its two-hundred day moving average price is $128.48. Inter Parfums, Inc. has a 52-week low of $97.65 and a 52-week high of $148.15. The company has a market cap of $3.30 billion, a P/E ratio of 22.07 and a beta of 1.15.
Inter Parfums (NASDAQ:IPAR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The business had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. On average, analysts anticipate that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.
Inter Parfums Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, March 14th. This is an increase from Inter Parfums's previous quarterly dividend of $0.75. Inter Parfums's dividend payout ratio is 62.87%.
Inter Parfums Company Profile
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Free Report)
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.
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