Illinois Municipal Retirement Fund Has $1.25 Million Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Illinois Municipal Retirement Fund cut its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 31.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,467 shares of the company's stock after selling 4,374 shares during the period. Illinois Municipal Retirement Fund's holdings in Inter Parfums were worth $1,245,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Inter Parfums by 5,393.6% in the 3rd quarter. Victory Capital Management Inc. now owns 363,567 shares of the company's stock valued at $47,075,000 after purchasing an additional 356,949 shares during the last quarter. Wellington Management Group LLP grew its holdings in Inter Parfums by 44.2% during the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company's stock worth $41,934,000 after acquiring an additional 99,316 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Inter Parfums by 17.2% in the fourth quarter. Bank of New York Mellon Corp now owns 291,575 shares of the company's stock valued at $38,345,000 after buying an additional 42,692 shares during the last quarter. Annex Advisory Services LLC increased its holdings in shares of Inter Parfums by 36.5% in the 4th quarter. Annex Advisory Services LLC now owns 118,390 shares of the company's stock valued at $15,569,000 after acquiring an additional 31,654 shares during the last quarter. Finally, Barclays PLC increased its stake in Inter Parfums by 293.0% in the third quarter. Barclays PLC now owns 34,689 shares of the company's stock valued at $4,492,000 after purchasing an additional 25,862 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IPAR. Canaccord Genuity Group increased their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Piper Sandler boosted their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. BWS Financial reiterated a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Monday, January 27th. Finally, DA Davidson lifted their price objective on Inter Parfums from $163.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.80.

Inter Parfums Stock Performance

NASDAQ IPAR traded up $0.34 during trading hours on Wednesday, hitting $133.10. The company had a trading volume of 239,234 shares, compared to its average volume of 143,439. The business has a fifty day simple moving average of $136.03 and a 200-day simple moving average of $129.82. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $148.15. The firm has a market cap of $4.26 billion, a P/E ratio of 28.56 and a beta of 1.20. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share 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 firm had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. Equities analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.80 per share. This is a positive change from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 2.40%. Inter Parfums's dividend 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.