First Horizon Advisors Inc. Has $32,000 Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

First Horizon Advisors Inc. decreased its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 41.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240 shares of the company’s stock after selling 167 shares during the period. First Horizon Advisors Inc.’s holdings in Inter Parfums were worth $32,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Inter Parfums by 55.9% in the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after acquiring an additional 81 shares during the last quarter. SRH Advisors LLC grew its stake 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 acquiring an additional 475 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Inter Parfums in the third quarter worth $104,000. Blue Trust Inc. grew its stake in shares of Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after acquiring an additional 167 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in shares of Inter Parfums by 15.1% in the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock worth $174,000 after acquiring an additional 174 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Stock Down 1.0 %

Shares of NASDAQ:IPAR opened at $138.92 on Friday. Inter Parfums, Inc. has a 52 week low of $108.39 and a 52 week high of $152.33. 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 company’s fifty day moving average is $135.66 and its 200-day moving average is $129.59. The company has a market capitalization of $4.45 billion, a PE ratio of 29.81 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results 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 during the quarter, compared to analyst estimates of $361.56 million. Equities research analysts predict that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. Inter Parfums’s payout ratio is currently 58.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday. BWS Financial reiterated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research note on Monday, January 27th. Finally, Piper Sandler lifted their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

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.