New York State Common Retirement Fund Raises Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

New York State Common Retirement Fund increased its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 55.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,504 shares of the company’s stock after buying an additional 15,837 shares during the period. New York State Common Retirement Fund owned 0.14% of Inter Parfums worth $6,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IPAR. Raymond James & Associates raised its stake in shares of Inter Parfums by 2.2% during the third quarter. Raymond James & Associates now owns 102,298 shares of the company’s stock valued at $13,743,000 after acquiring an additional 2,236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Inter Parfums by 13.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,905 shares of the company’s stock worth $525,000 after buying an additional 478 shares during the period. Strs Ohio grew its position in shares of Inter Parfums by 2.7% during the 3rd quarter. Strs Ohio now owns 7,600 shares of the company’s stock worth $1,020,000 after buying an additional 200 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of Inter Parfums during the third quarter valued at $257,000. Finally, Inspire Advisors LLC bought a new stake in shares of Inter Parfums in the third quarter valued at about $586,000. Institutional investors own 55.57% of the company’s stock.

Insider Buying and Selling at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $150,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 43.90% of the stock is currently owned by company insiders.

Inter Parfums Trading Up 0.5 %

NASDAQ:IPAR opened at $119.11 on Friday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 25.08 and a beta of 1.19. Inter Parfums, Inc. has a 52 week low of $114.88 and a 52 week high of $156.75. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $133.17 and a 200 day moving average of $135.01.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The business had revenue of $328.74 million for the quarter, compared to analysts’ expectations of $329.00 million. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s payout ratio is currently 63.16%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th. DA Davidson reissued a “buy” rating and issued a $192.00 price objective on shares of Inter Parfums in a research note on Friday, April 26th. Finally, Piper Sandler dropped their target price on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th.

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.