Inter Parfums, Inc. (NASDAQ:IPAR) Stock Position Decreased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,090 shares of the company’s stock after selling 2,337 shares during the period. Ameriprise Financial Inc. owned about 0.62% of Inter Parfums worth $25,919,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC boosted its position 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 buying an additional 81 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Inter Parfums by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,907 shares of the company’s stock worth $251,000 after buying an additional 121 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Inter Parfums by 7.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company’s stock worth $239,000 after buying an additional 124 shares during the period. Level Four Advisory Services LLC boosted its position in shares of Inter Parfums by 1.9% in the fourth quarter. Level Four Advisory Services LLC now owns 8,101 shares of the company’s stock worth $1,065,000 after buying an additional 154 shares during the period. Finally, 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 worth $106,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Price Performance

NASDAQ IPAR opened at $124.16 on Thursday. Inter Parfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15. The stock’s 50-day moving average is $113.81 and its two-hundred day moving average is $126.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The firm has a market cap of $3.99 billion, a P/E ratio of 26.64 and a beta of 1.33.

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

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.80 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is 62.26%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Inter Parfums

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $122.15, for a total value of $183,225.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 43.90% of the company’s stock.

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.