Royce & Associates LP Sells 56,583 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Royce & Associates LP trimmed its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 538,592 shares of the company's stock after selling 56,583 shares during the quarter. Inter Parfums makes up 0.7% of Royce & Associates LP's holdings, making the stock its 19th biggest holding. Royce & Associates LP owned approximately 1.68% of Inter Parfums worth $70,830,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Inter Parfums by 55.9% in the fourth 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. Envestnet Portfolio Solutions Inc. grew its position in shares of Inter Parfums by 7.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company's stock valued at $239,000 after buying an additional 124 shares during the last quarter. KBC Group NV increased its stake in shares of Inter Parfums by 3.0% in the third quarter. KBC Group NV now owns 4,313 shares of the company's stock valued at $558,000 after buying an additional 126 shares during the period. Aurora Investment Counsel raised its position in shares of Inter Parfums by 0.8% during the third quarter. Aurora Investment Counsel now owns 19,457 shares of the company's stock worth $2,519,000 after acquiring an additional 146 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of 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 acquiring an additional 167 shares during the period. 55.57% of the stock is currently owned by institutional investors.

Remove Ads

Inter Parfums Stock Down 1.9 %

NASDAQ IPAR traded down $2.32 on Thursday, hitting $120.23. 200,133 shares of the company were exchanged, compared to its average volume of 145,610. 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 company has a market cap of $3.86 billion, a PE ratio of 25.80 and a beta of 1.18. The stock has a fifty day moving average of $135.50 and a 200-day moving average of $130.04. Inter Parfums, Inc. has a 12 month low of $108.39 and a 12 month high of $148.15.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $361.50 million for the quarter, compared to the consensus estimate of $361.56 million. As a group, analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. Inter Parfums's dividend payout ratio is presently 62.87%.

Wall Street Analyst Weigh In

IPAR has been the subject of several analyst reports. BWS Financial restated a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday. DA Davidson lifted their target price on shares of Inter Parfums from $163.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. 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. Finally, Piper Sandler increased their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Inter Parfums currently has an average rating of "Moderate Buy" and an average target price of $162.80.

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.