Raymond James & Associates Reduces Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Raymond James & Associates cut its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPARFree Report) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,035 shares of the company’s stock after selling 7,263 shares during the quarter. Raymond James & Associates owned 0.30% of Inter Parfums worth $13,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Inter Parfums by 431.0% during the fourth quarter. Morgan Stanley now owns 1,018,907 shares of the company’s stock worth $98,345,000 after purchasing an additional 827,032 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of Inter Parfums during the 1st quarter valued at about $19,936,000. Norges Bank acquired a new position in shares of Inter Parfums in the 4th quarter valued at about $13,092,000. Invesco Ltd. boosted its stake in shares of Inter Parfums by 94.4% in the third quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock worth $37,136,000 after buying an additional 134,243 shares during the last quarter. Finally, Comerica Bank acquired a new stake in Inter Parfums during the second quarter worth about $150,220,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Inter Parfums

In other Inter Parfums news, VP Philippe Santi sold 1,000 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $137.11, for a total transaction of $137,110.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $150,420. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Philippe Santi sold 1,000 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $137.11, for a total value of $137,110.00. The disclosure for this sale can be found here. 43.90% of the stock is owned by corporate insiders.

Inter Parfums Stock Down 3.7 %

IPAR opened at $130.08 on Thursday. The company has a fifty day moving average of $142.68 and a two-hundred day moving average of $136.27. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 27.39 and a beta of 1.13. Inter Parfums, Inc. has a fifty-two week low of $120.71 and a fifty-two week high of $161.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58.

Inter Parfums (NASDAQ:IPARGet Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $328.74 million during the quarter, compared to analysts’ expectations of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. Inter Parfums’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, research analysts expect that Inter Parfums, Inc. will post 5.16 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.75 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.31%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price target on Inter Parfums from $175.00 to $176.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th.

Get Our Latest Report on Inter Parfums

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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Institutional Ownership by Quarter for Inter Parfums (NASDAQ:IPAR)

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