By otakuyassine3@gmail.com 
Cibc World Markets Corp purchased a new stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,705 shares of the company’s stock, valued at approximately $224,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IPAR. Intech Investment Management LLC boosted its position in shares of Inter Parfums by 125.3% during the third quarter. Intech Investment Management LLC now owns 7,479 shares of the company’s stock valued at $968,000 after buying an additional 4,160 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Inter Parfums by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 190,331 shares of the company’s stock worth $24,644,000 after acquiring an additional 1,129 shares during the last quarter. FMR LLC raised its holdings in shares of Inter Parfums by 13.3% in the third quarter. FMR LLC now owns 3,365 shares of the company’s stock valued at $436,000 after purchasing an additional 395 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Inter Parfums by 22.1% during the third quarter. Glenmede Trust Co. NA now owns 7,960 shares of the company’s stock valued at $1,031,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new position in Inter Parfums during the third quarter worth about $104,000. 55.57% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
IPAR has been the topic of several recent analyst reports. Piper Sandler lifted their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group boosted their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. DA Davidson reaffirmed a “buy” rating and set a $170.00 target price on shares of Inter Parfums in a research report on Tuesday. Finally, BWS Financial reissued a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.80.
Read Our Latest Analysis on Inter Parfums
Inter Parfums Stock Performance
NASDAQ:IPAR opened at $119.02 on Thursday. The company has a market capitalization of $3.82 billion, a P/E ratio of 25.54 and a beta of 1.18. The business has a fifty day simple moving average of $134.47 and a two-hundred day simple moving average of $129.91. 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.
Inter Parfums (NASDAQ:IPAR – Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm had revenue of $361.50 million during the quarter, compared to analysts’ expectations of $361.56 million. On average, analysts expect that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.
Inter Parfums Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.80 dividend. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, March 14th. 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.
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