US Bancorp DE Grows Holdings in Interparfums, Inc. (NASDAQ:IPAR)

Key Points

• US Bancorp DE significantly increased its investment in Interparfums, Inc. by 76.9% in Q1, owning 8,949 shares worth approximately $1.02 million as of the latest SEC filing.
• The recent quarterly earnings report revealed that Interparfums missed expectations, reporting an EPS of $0.99 compared to the anticipated $1.10, and revenues of $333.94 million, down 2.3% year-over-year.
• Interparfums announced a quarterly dividend of $0.80 per share, which reflects an annualized dividend yield of 2.8% and a payout ratio of 64.13%.

US Bancorp DE increased its position in shares of Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 76.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,949 shares of the company's stock after purchasing an additional 3,890 shares during the quarter. US Bancorp DE's holdings in Interparfums were worth $1,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eukles Asset Management purchased a new position in Interparfums during the first quarter worth about $30,000. CWM LLC boosted its holdings in Interparfums by 29.4% during the first quarter. CWM LLC now owns 418 shares of the company's stock worth $48,000 after purchasing an additional 95 shares during the last quarter. Blue Trust Inc. boosted its holdings in Interparfums by 52.0% during the first quarter. Blue Trust Inc. now owns 506 shares of the company's stock worth $58,000 after purchasing an additional 173 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in Interparfums by 210.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company's stock worth $67,000 after purchasing an additional 347 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Interparfums by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 800 shares of the company's stock worth $105,000 after purchasing an additional 400 shares during the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gilbert Harrison sold 400 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $133.96, for a total value of $53,584.00. Following the sale, the director owned 1,550 shares of the company's stock, valued at $207,638. The trade was a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Veronique Gabai-Pinsky sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $122.15, for a total transaction of $183,225.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,900 shares of company stock valued at $376,039 over the last quarter. Company insiders own 43.70% of the company's stock.

Interparfums Stock Performance

Shares of IPAR stock opened at $115.82 on Friday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 23.21 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.96. Interparfums, Inc. has a 52 week low of $97.65 and a 52 week high of $148.15. The firm's 50-day simple moving average is $131.48 and its two-hundred day simple moving average is $126.65.

Interparfums (NASDAQ:IPAR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.11). The company had revenue of $333.94 million during the quarter, compared to the consensus estimate of $357.58 million. Interparfums had a return on equity of 16.45% and a net margin of 11.03%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 EPS. As a group, equities analysts forecast that Interparfums, Inc. will post 5.14 earnings per share for the current year.

Interparfums Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 2.8%. Interparfums's payout ratio is 64.13%.

Analyst Ratings Changes

Several research firms recently weighed in on IPAR. BWS Financial restated a "buy" rating and set a $172.00 price target on shares of Interparfums in a report on Wednesday, May 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $138.00 price objective (down previously from $169.00) on shares of Interparfums in a research report on Thursday, April 24th.

Interparfums 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.

Want to see what other hedge funds are holding IPAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interparfums, Inc. (NASDAQ:IPAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.