Avantax Advisory Services Inc. Lowers Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Avantax Advisory Services Inc. trimmed its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 21.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,118 shares of the company’s stock after selling 1,144 shares during the period. Avantax Advisory Services Inc.’s holdings in Inter Parfums were worth $542,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Inter Parfums during the 4th quarter worth approximately $39,070,000. Victory Capital Management Inc. boosted its position in Inter Parfums by 55.0% in the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock valued at $74,125,000 after buying an additional 200,079 shares during the last quarter. Wellington Management Group LLP grew its stake in Inter Parfums by 44.2% during the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock valued at $41,934,000 after purchasing an additional 99,316 shares in the last quarter. Bahl & Gaynor Inc. grew its position in shares of Inter Parfums by 18.5% during the fourth quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company’s stock worth $42,326,000 after buying an additional 50,247 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Inter Parfums by 17.2% during the 4th quarter. Bank of New York Mellon Corp now owns 291,575 shares of the company’s stock worth $38,345,000 after acquiring an additional 42,692 shares in the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IPAR shares. Piper Sandler raised their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. BWS Financial restated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Monday, March 17th. Canaccord Genuity Group lifted their price target on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, DA Davidson increased their target price on shares of Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $162.80.

Inter Parfums Stock Down 1.5 %

IPAR opened at $118.39 on Friday. The stock’s fifty day moving average is $134.88 and its 200-day moving average is $129.88. Inter Parfums, Inc. has a one year low of $108.39 and a one year high of $148.15. The company has a market capitalization of $3.80 billion, a PE ratio of 25.41 and a beta of 1.18. 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) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. On average, equities analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.70%. Inter Parfums’s dividend payout ratio is currently 62.87%.

About Inter Parfums

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.