By otakuyassine3@gmail.com 
Raymond James Financial Inc. purchased a new stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR – Free Report) in the 4th quarter, HoldingsChannel reports. The firm purchased 297,087 shares of the company’s stock, valued at approximately $39,070,000.
Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after buying an additional 81 shares during the period. SRH Advisors LLC boosted its position in Inter Parfums by 791.7% during the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock valued at $70,000 after buying an additional 475 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in Inter Parfums during the third quarter valued at about $104,000. Blue Trust Inc. boosted its position in Inter Parfums by 25.7% during the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $106,000 after buying an additional 167 shares during the period. Finally, Principal Securities Inc. boosted its position in Inter Parfums by 15.1% during the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock valued at $174,000 after buying an additional 174 shares during the period. 55.57% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on IPAR. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research report on Monday, January 27th. Canaccord Genuity Group upped their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. DA Davidson upped their price objective on shares of Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Piper Sandler upped their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat, Inter Parfums has an average rating of “Moderate Buy” and an average price target of $162.80.
Check Out Our Latest Stock Report on Inter Parfums
Inter Parfums Price Performance
IPAR stock opened at $128.91 on Thursday. Inter Parfums, Inc. has a 1 year low of $108.39 and a 1 year high of $148.15. The company has a market cap of $4.13 billion, a P/E ratio of 27.66 and a beta of 1.18. The firm has a 50-day moving average of $135.99 and a 200 day moving average of $130.05. 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 (NASDAQ:IPAR – Get Free Report) last released 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). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. On average, sell-side analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current year.
Inter Parfums Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.80 dividend. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Friday, March 14th. Inter Parfums’s dividend payout ratio 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.
See Also
Want to see what other hedge funds are holding IPAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inter Parfums, Inc. (NASDAQ:IPAR – Free Report).
Receive News & Ratings for Inter Parfums Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Inter Parfums and related companies with MarketBeat.com’s FREE daily email newsletter.