Summit Investment Advisors Inc. Acquires 121 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Summit Investment Advisors Inc. grew its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,907 shares of the company’s stock after acquiring an additional 121 shares during the period. Summit Investment Advisors Inc.’s holdings in Inter Parfums were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IPAR. GAMMA Investing LLC lifted its holdings in Inter Parfums by 55.9% during the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after purchasing an additional 81 shares in the last quarter. SRH Advisors LLC lifted its holdings in shares of Inter Parfums by 791.7% in the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after buying an additional 475 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $106,000 after acquiring an additional 167 shares during the period. Principal Securities Inc. grew its stake in Inter Parfums by 15.1% during the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock valued at $174,000 after acquiring an additional 174 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Inter Parfums by 28.0% during the 4th quarter. Covestor Ltd now owns 1,517 shares of the company’s stock worth $200,000 after acquiring an additional 332 shares during the period. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IPAR shares. Canaccord Genuity Group boosted their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. BWS Financial restated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, March 17th. Finally, 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Stock Up 1.0 %

IPAR opened at $105.04 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $121.25 and its 200 day simple moving average is $127.86. Inter Parfums, Inc. has a 52 week low of $97.65 and a 52 week high of $148.15. The stock has a market cap of $3.37 billion, a PE ratio of 22.54 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm had revenue of $361.50 million for the quarter, compared to the consensus estimate of $361.56 million. As a group, research analysts expect that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio (DPR) is presently 62.87%.

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.