Royce & Associates LP increased its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 0.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 595,175 shares of the company's stock after acquiring an additional 4,345 shares during the period. Inter Parfums makes up about 0.7% of Royce & Associates LP's portfolio, making the stock its 18th largest holding. Royce & Associates LP owned 1.86% of Inter Parfums worth $77,063,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its stake in Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company's stock valued at $33,000 after buying an additional 88 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company's stock worth $84,000 after acquiring an additional 296 shares during the last quarter. Mendota Financial Group LLC acquired a new position in Inter Parfums in the 2nd quarter valued at $89,000. Crossmark Global Holdings Inc. acquired a new stake in Inter Parfums during the 3rd quarter worth $209,000. Finally, Choreo LLC purchased a new stake in shares of Inter Parfums during the second quarter worth $213,000. Hedge funds and other institutional investors own 55.57% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on IPAR. DA Davidson reissued a "buy" rating and issued a $163.00 target price on shares of Inter Parfums in a research note on Tuesday. Piper Sandler reduced their price target on Inter Parfums from $158.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday. BWS Financial reissued a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday. Finally, StockNews.com raised shares of Inter Parfums from a "sell" rating to a "hold" rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Inter Parfums currently has an average rating of "Moderate Buy" and a consensus target price of $157.50.
Get Our Latest Analysis on Inter Parfums
Inter Parfums Trading Down 4.6 %
IPAR stock traded down $6.07 during mid-day trading on Friday, hitting $124.65. 168,303 shares of the company were exchanged, compared to its average volume of 145,819. The business has a fifty day simple moving average of $122.42 and a 200-day simple moving average of $122.47. The firm has a market capitalization of $3.99 billion, a P/E ratio of 28.05 and a beta of 1.16. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $156.75. 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 (NASDAQ:IPAR - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. The company had revenue of $425.00 million during the quarter, compared to analysts' expectations of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Inter Parfums's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS. On average, equities research analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.
Inter Parfums Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Monday, December 16th. Inter Parfums's payout ratio is presently 64.38%.
Insider Buying and Selling at Inter Parfums
In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 43.90% of the company's stock.
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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