Inter Parfums, Inc. (NASDAQ:IPAR) Stake Lifted by Benjamin Edwards Inc.

Benjamin Edwards Inc. lifted its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 427.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,687 shares of the company's stock after buying an additional 13,521 shares during the period. Benjamin Edwards Inc. owned approximately 0.05% of Inter Parfums worth $2,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 worth $269,677,000 after purchasing an additional 20,721 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Inter Parfums by 10.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company's stock valued at $147,913,000 after buying an additional 108,321 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Inter Parfums by 55.0% during the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company's stock valued at $74,125,000 after buying an additional 200,079 shares during the period. American Century Companies Inc. raised its holdings in shares of Inter Parfums by 23.3% during the 4th quarter. American Century Companies Inc. now owns 453,993 shares of the company's stock valued at $59,705,000 after buying an additional 85,871 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Inter Parfums by 4.1% during the 4th quarter. Invesco Ltd. now owns 362,518 shares of the company's stock valued at $47,675,000 after buying an additional 14,254 shares during the period. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Inter Parfums Stock Up 2.6%

IPAR stock traded up $3.10 during midday trading on Monday, hitting $122.07. 280,960 shares of the company's stock were exchanged, compared to its average volume of 181,973. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 12-month low of $97.65 and a 12-month high of $148.15. The firm has a 50 day moving average price of $114.37 and a 200-day moving average price of $126.96. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 26.16 and a beta of 1.33.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $329.21 million. During the same period in the previous year, the business earned $1.27 EPS. Inter Parfums's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.80 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.62%. Inter Parfums's dividend payout ratio (DPR) is 62.26%.

Wall Street Analyst Weigh In

Several brokerages recently commented on IPAR. Piper Sandler reiterated an "overweight" rating and set a $138.00 target price (down from $169.00) on shares of Inter Parfums in a report on Thursday, April 24th. 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. DA Davidson reissued a "buy" rating and issued a $170.00 price objective on shares of Inter Parfums in a research report on Tuesday, March 25th. Finally, BWS Financial reissued a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $157.60.

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.