Pier Capital LLC Boosts Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Pier Capital LLC raised its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 36.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,238 shares of the company's stock after acquiring an additional 16,942 shares during the period. Pier Capital LLC owned approximately 0.20% of Inter Parfums worth $8,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IPAR. GAMMA Investing LLC lifted its stake in shares of Inter Parfums by 55.9% in 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 last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Inter Parfums by 7.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company's stock worth $239,000 after purchasing an additional 124 shares during the period. Blue Trust Inc. grew its holdings in Inter Parfums by 25.7% during the 4th quarter. Blue Trust Inc. now owns 818 shares of the company's stock valued at $106,000 after purchasing an additional 167 shares during the last quarter. Principal Securities Inc. raised its position in Inter Parfums by 15.1% in the 4th quarter. Principal Securities Inc. now owns 1,323 shares of the company's stock worth $174,000 after purchasing an additional 174 shares during the period. Finally, Truist Financial Corp boosted its position in shares of Inter Parfums by 1.1% during the fourth quarter. Truist Financial Corp now owns 17,583 shares of the company's stock valued at $2,312,000 after buying an additional 184 shares during the period. 55.57% of the stock is currently owned by institutional investors.

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Inter Parfums Stock Down 3.5 %

NASDAQ:IPAR traded down $4.23 during mid-day trading on Friday, reaching $117.26. The company's stock had a trading volume of 334,547 shares, compared to its average volume of 162,253. 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, Inc. has a 1 year low of $108.39 and a 1 year high of $148.15. The stock has a fifty day moving average of $133.44 and a 200-day moving average of $129.88. The firm has a market capitalization of $3.77 billion, a PE ratio of 25.16 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share 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 analysts' expectations of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Equities research analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The business 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. The ex-dividend date was Friday, March 14th. This is an increase from Inter Parfums's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.73%. Inter Parfums's dividend payout ratio (DPR) is currently 62.87%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IPAR. BWS Financial restated a "buy" rating and set a $172.00 price objective on shares of Inter Parfums in a report on Monday, March 17th. DA Davidson reissued a "buy" rating and set a $170.00 target price on shares of Inter Parfums in a research note on Tuesday. Piper Sandler raised their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their price objective 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $162.80.

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.