T. Rowe Price Investment Management Inc. Has $147.91 Million Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

T. Rowe Price Investment Management Inc. raised its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,124,728 shares of the company's stock after acquiring an additional 108,321 shares during the period. T. Rowe Price Investment Management Inc. owned about 3.51% of Inter Parfums worth $147,913,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IPAR. Raymond James Financial Inc. bought a new stake in shares of Inter Parfums in the 4th quarter worth about $39,070,000. Norges Bank acquired a new position in Inter Parfums in the fourth quarter valued at about $32,095,000. Victory Capital Management Inc. grew its stake in Inter Parfums by 55.0% during the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company's stock worth $74,125,000 after buying an additional 200,079 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Inter Parfums by 23.3% during the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company's stock worth $59,705,000 after buying an additional 85,871 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in shares of Inter Parfums by 18.5% in the fourth quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company's stock valued at $42,326,000 after acquiring an additional 50,247 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Inter Parfums Trading Up 1.1 %

NASDAQ:IPAR traded up $1.19 on Friday, hitting $108.45. 368,078 shares of the stock were exchanged, compared to its average volume of 176,264. The company's 50-day moving average price is $119.03 and its 200 day moving average price is $127.43. Inter Parfums, Inc. has a 52 week low of $97.65 and a 52 week high of $148.15. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 23.27 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its earnings results 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). The company had revenue of $361.50 million for the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.80 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from Inter Parfums's previous quarterly dividend of $0.75. Inter Parfums's dividend payout ratio is currently 62.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IPAR shares. BWS Financial reaffirmed a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday, March 17th. Canaccord Genuity Group raised their target price on Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. DA Davidson reiterated a "buy" rating and set a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. Finally, Piper Sandler restated an "overweight" rating and issued a $138.00 price objective (down previously from $169.00) on shares of Inter Parfums in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.60.

Inter Parfums 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.