US Bancorp DE Sells 1,813 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

US Bancorp DE cut its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 26.4% during the 4th quarter, HoldingsChannel reports. The firm owned 5,059 shares of the company’s stock after selling 1,813 shares during the period. US Bancorp DE’s holdings in Inter Parfums were worth $665,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Inter Parfums by 0.3% during the third quarter. State Street Corp now owns 676,253 shares of the company’s stock valued at $87,561,000 after purchasing an additional 2,255 shares in the last quarter. Royce & Associates LP boosted its holdings in Inter Parfums by 0.7% in the third quarter. Royce & Associates LP now owns 595,175 shares of the company’s stock worth $77,063,000 after acquiring an additional 4,345 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Inter Parfums by 1.2% in the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after acquiring an additional 5,056 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Inter Parfums by 5,393.6% in the third quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock worth $47,075,000 after acquiring an additional 356,949 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Inter Parfums by 44.2% in the third quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after acquiring an additional 99,316 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on IPAR shares. BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday, January 27th. Piper Sandler boosted their target price on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. DA Davidson boosted their target price on Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their target price on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Inter Parfums currently has an average rating of “Moderate Buy” and an average target price of $162.80.

Inter Parfums Trading Up 1.4 %

Shares of NASDAQ:IPAR opened at $128.87 on Wednesday. The company has a market cap of $4.13 billion, a P/E ratio of 27.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. Inter Parfums, Inc. has a 1 year low of $108.39 and a 1 year high of $148.15. The stock’s fifty day moving average price is $136.04 and its 200-day moving average price is $130.03.

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

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio is 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.