Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,926 shares of the company's stock after selling 57,641 shares during the period. Granite Investment Partners LLC owned about 0.47% of Inter Parfums worth $19,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IPAR. Covestor Ltd lifted its holdings in Inter Parfums by 28.0% during the 4th quarter. Covestor Ltd now owns 1,517 shares of the company's stock worth $200,000 after buying an additional 332 shares in the last quarter. Bessemer Group Inc. grew its stake in Inter Parfums by 42.2% during the 4th quarter. Bessemer Group Inc. now owns 142,171 shares of the company's stock worth $18,698,000 after purchasing an additional 42,225 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Inter Parfums during the 4th quarter worth about $39,070,000. Legal & General Group Plc raised its position in Inter Parfums by 7.9% in the 4th quarter. Legal & General Group Plc now owns 53,264 shares of the company's stock valued at $7,005,000 after purchasing an additional 3,911 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Inter Parfums by 4.1% in the 4th quarter. Invesco Ltd. now owns 362,518 shares of the company's stock valued at $47,675,000 after buying an additional 14,254 shares during the period. Hedge funds and other institutional investors own 55.57% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IPAR shares. DA Davidson reiterated 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 target price 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 reaffirmed 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $162.80.

Inter Parfums Stock Performance

Shares of NASDAQ IPAR traded up $1.57 during trading hours on Friday, reaching $104.02. The stock had a trading volume of 132,740 shares, compared to its average volume of 174,258. The firm has a 50-day moving average of $122.56 and a 200-day moving average of $128.12. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 22.32 and a beta of 1.15. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. Equities research analysts predict 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 $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Inter Parfums's previous quarterly dividend of $0.75. Inter Parfums's payout ratio is 62.87%.

Inter Parfums 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.