Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,638 shares of the company's stock after selling 4,124 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of Inter Parfums worth $2,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Inter Parfums by 1.2% during the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company's stock valued at $56,481,000 after acquiring an additional 5,056 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Inter Parfums by 50.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company's stock worth $2,982,000 after acquiring an additional 7,771 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Inter Parfums by 36.3% during 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 during the last quarter. Annex Advisory Services LLC increased its holdings 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 valued at $15,569,000 after purchasing an additional 31,654 shares during the period. Finally, Monument Capital Management purchased a new position in shares of Inter Parfums in the fourth quarter worth about $362,000. Hedge funds and other institutional investors own 55.57% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. DA Davidson reiterated a "buy" rating and issued a $170.00 price target on shares of Inter Parfums in a report on Tuesday, March 25th. Canaccord Genuity Group lifted their price objective on Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, BWS Financial restated a "buy" rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $162.80.

Inter Parfums Price Performance

Shares of Inter Parfums stock traded down $2.57 during trading hours on Friday, reaching $104.12. The stock had a trading volume of 466,774 shares, compared to its average volume of 168,398. Inter Parfums, Inc. has a twelve month low of $100.92 and a twelve month high of $148.15. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.34 billion, a PE ratio of 22.34 and a beta of 1.15. The stock's 50 day moving average is $130.32 and its 200 day moving average is $129.73.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued 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 analyst estimates of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Equities analysts expect that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.80 per share. The ex-dividend date was Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.07%. This is a boost from Inter Parfums's previous quarterly dividend of $0.75. Inter Parfums's payout ratio is currently 62.87%.

About Inter Parfums

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.