Norges Bank Invests $32.10 Million in Inter Parfums, Inc. (NASDAQ:IPAR)

Norges Bank bought a new position in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 244,052 shares of the company's stock, valued at approximately $32,095,000. Norges Bank owned about 0.76% of Inter Parfums as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of IPAR. FMR LLC boosted its position in shares of Inter Parfums by 13.3% in the third quarter. FMR LLC now owns 3,365 shares of the company's stock worth $436,000 after acquiring an additional 395 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Inter Parfums by 20.6% in the third quarter. Benjamin Edwards Inc. now owns 3,166 shares of the company's stock worth $410,000 after acquiring an additional 540 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Inter Parfums in the third quarter worth approximately $732,000. HighTower Advisors LLC lifted its position in Inter Parfums by 15.7% during the third quarter. HighTower Advisors LLC now owns 2,966 shares of the company's stock valued at $384,000 after buying an additional 403 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in Inter Parfums during the third quarter valued at approximately $3,111,000. 55.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IPAR. Canaccord Genuity Group lifted their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. DA Davidson reaffirmed a "buy" rating and set a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. Finally, BWS Financial reaffirmed a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Inter Parfums currently has an average rating of "Moderate Buy" and a consensus target price of $162.80.

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Inter Parfums Stock Down 4.5 %

Shares of NASDAQ IPAR traded down $4.88 during trading on Thursday, reaching $103.65. 27,194 shares of the stock were exchanged, compared to its average volume of 242,169. The business's 50-day moving average price is $126.53 and its 200 day moving average price is $129.04. Inter Parfums, Inc. has a twelve month low of $97.65 and a twelve month high of $148.15. 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 market capitalization of $3.33 billion, a price-to-earnings ratio of 22.24 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.05). The business had revenue of $361.50 million for 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%. As a group, equities analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums's payout ratio is presently 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.