The Manufacturers Life Insurance Company Has $1.38 Million Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

The Manufacturers Life Insurance Company lowered its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 2.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,519 shares of the company’s stock after selling 294 shares during the period. The Manufacturers Life Insurance Company’s holdings in Inter Parfums were worth $1,383,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of IPAR. Raymond James Financial Inc. acquired a new position in shares of Inter Parfums during the 4th quarter worth approximately $39,070,000. Norges Bank acquired a new stake in shares of Inter Parfums during the 4th quarter worth approximately $32,095,000. Victory Capital Management Inc. lifted its stake 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 purchasing an additional 200,079 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Inter Parfums by 10.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company’s stock valued at $147,913,000 after purchasing an additional 108,321 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Inter Parfums by 23.3% in the 4th quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock valued at $59,705,000 after purchasing an additional 85,871 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IPAR shares. Piper Sandler reaffirmed an “overweight” rating and set a $138.00 price target (down previously from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. BWS Financial restated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a report on Wednesday, May 7th. DA Davidson restated a “buy” rating and issued a $170.00 price target on shares of Inter Parfums in a report on Tuesday, March 25th. Finally, Canaccord Genuity Group lifted their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Inter Parfums presently has an average rating of “Moderate Buy” and an average price target of $157.60.

Inter Parfums Stock Performance

Shares of IPAR stock opened at $122.85 on Tuesday. The firm’s 50-day simple moving average is $114.16 and its two-hundred day simple moving average is $126.97. Inter Parfums, Inc. has a 52 week low of $97.65 and a 52 week high of $148.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 26.36 and a beta of 1.33.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company had revenue of $339.00 million for the quarter, compared to analyst estimates of $329.21 million. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.20 dividend on an annualized basis and a yield of 2.60%. Inter Parfums’s dividend payout ratio is presently 62.26%.

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.