Bridgewater Associates LP cut its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 71.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,487 shares of the company's stock after selling 8,780 shares during the period. Bridgewater Associates LP's holdings in Inter Parfums were worth $459,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position 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 acquiring an additional 5,056 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Inter Parfums by 36.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,108 shares of the company's stock valued at $540,000 after purchasing an additional 1,095 shares in the last quarter. Vanguard Group Inc. raised its position in Inter Parfums by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company's stock valued at $269,677,000 after purchasing an additional 20,721 shares during the period. Legal & General Group Plc lifted its stake in shares of 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 purchasing an additional 3,911 shares in the last quarter. Finally, Annex Advisory Services LLC boosted its position in shares of Inter Parfums by 36.5% in the fourth quarter. Annex Advisory Services LLC now owns 118,390 shares of the company's stock worth $15,569,000 after buying an additional 31,654 shares during the period. 55.57% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. BWS Financial reissued a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a research report on Monday, March 17th. Canaccord Genuity Group boosted their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, DA Davidson reaffirmed a "buy" rating and set a $170.00 price target on shares of Inter Parfums in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Inter Parfums presently has an average rating of "Moderate Buy" and an average target price of $162.80.
Check Out Our Latest Stock Report on IPAR
Inter Parfums Stock Up 1.8 %
Shares of IPAR traded up $1.90 during trading on Wednesday, reaching $107.66. The company's stock had a trading volume of 182,797 shares, compared to its average volume of 175,003. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 23.10 and a beta of 1.15. 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 fifty day moving average of $120.57 and a two-hundred day moving average of $127.70. Inter Parfums, Inc. has a twelve month low of $97.65 and a twelve month high of $148.15.
Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. On average, sell-side analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.
Inter Parfums Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.97%. This is an increase from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. Inter Parfums's payout ratio is 62.87%.
About Inter Parfums
(
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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