Raymond James Financial Inc. Invests $39.07 Million in Inter Parfums, Inc. (NASDAQ:IPAR)

Raymond James Financial Inc. bought a new position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 297,087 shares of the company's stock, valued at approximately $39,070,000. Raymond James Financial Inc. owned 0.93% of Inter Parfums as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IPAR. Geode Capital Management LLC increased 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 valued at $56,481,000 after purchasing an additional 5,056 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Inter Parfums by 36.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,108 shares of the company's stock worth $540,000 after buying an additional 1,095 shares during the period. Vanguard Group Inc. increased its stake in shares of Inter Parfums by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company's stock valued at $269,677,000 after acquiring an additional 20,721 shares during the last quarter. Legal & General Group Plc raised its position in shares of Inter Parfums by 7.9% in the 4th quarter. Legal & General Group Plc now owns 53,264 shares of the company's stock valued at $7,005,000 after acquiring an additional 3,911 shares during the period. Finally, Annex Advisory Services LLC boosted its stake in Inter Parfums by 36.5% during the 4th quarter. Annex Advisory Services LLC now owns 118,390 shares of the company's stock worth $15,569,000 after acquiring an additional 31,654 shares during the last quarter. Institutional investors own 55.57% of the company's stock.

Inter Parfums Stock Down 1.1 %

Shares of NASDAQ:IPAR traded down $1.18 during midday trading on Monday, reaching $102.85. 9,172 shares of the company were exchanged, compared to its average volume of 173,689. The firm has a market cap of $3.30 billion, a PE ratio of 22.07 and a beta of 1.15. Inter Parfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15. The stock has a fifty day simple moving average of $121.87 and a two-hundred day simple moving average of $127.99. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

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 the consensus estimate of $0.87 by ($0.05). The firm had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. As a group, sell-side analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.80 per share. This is a boost from Inter Parfums's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums's dividend payout ratio (DPR) is currently 62.87%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. DA Davidson reaffirmed a "buy" rating and issued a $170.00 target price on shares of Inter Parfums in a research note on Tuesday, March 25th. 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 report on Thursday, February 27th. Finally, BWS Financial reaffirmed a "buy" rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.