Pictet Asset Management Holding SA Sells 116,930 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Pictet Asset Management Holding SA cut its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 25.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 340,628 shares of the company's stock after selling 116,930 shares during the period. Pictet Asset Management Holding SA owned 1.06% of Inter Parfums worth $44,796,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Inter Parfums by 55.9% during the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company's stock valued at $30,000 after purchasing an additional 81 shares during the period. SRH Advisors LLC boosted its stake in shares of Inter Parfums by 791.7% during the 4th quarter. SRH Advisors LLC now owns 535 shares of the company's stock valued at $70,000 after purchasing an additional 475 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new position in shares of Inter Parfums during the third quarter valued at about $104,000. Blue Trust Inc. raised its stake in Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company's stock worth $106,000 after buying an additional 167 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in Inter Parfums by 15.1% in the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company's stock worth $174,000 after buying an additional 174 shares during the period. 55.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on IPAR shares. DA Davidson reissued a "buy" rating and issued a $170.00 target price on shares of Inter Parfums in a research report on Tuesday, March 25th. BWS Financial reiterated a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, March 17th. Finally, Canaccord Genuity Group boosted their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $162.80.

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Inter Parfums Stock Down 2.4 %

Shares of NASDAQ IPAR traded down $2.57 during trading on Friday, reaching $104.12. The company had a trading volume of 466,774 shares, compared to its average volume of 168,166. Inter Parfums, Inc. has a 12-month low of $100.93 and a 12-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 business's 50-day moving average is $130.32 and its 200 day moving average is $129.57. The stock has a market cap of $3.34 billion, a PE ratio of 22.34 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released 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). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm had revenue of $361.50 million for the quarter, compared to the consensus estimate of $361.56 million. As a group, equities analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.80 dividend. 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.07%. Inter Parfums's dividend payout ratio (DPR) 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.