US Bancorp DE Has $1.02 Million Stake 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 lifted its position in shares of Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 76.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,949 shares of the company's stock after purchasing an additional 3,890 shares during the period. US Bancorp DE's holdings in Interparfums were worth $1,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IPAR. Principal Financial Group Inc. lifted its holdings in shares of Interparfums by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 89,580 shares of the company's stock valued at $10,200,000 after buying an additional 2,041 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Interparfums in the first quarter worth $1,714,000. Envestnet Asset Management Inc. lifted its holdings in Interparfums by 10.6% in the first quarter. Envestnet Asset Management Inc. now owns 122,594 shares of the company's stock valued at $13,960,000 after acquiring an additional 11,784 shares during the period. Legal & General Group Plc lifted its holdings in Interparfums by 7.9% in the fourth 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, Fifth Third Bancorp boosted its position in shares of Interparfums by 6.4% during the 1st quarter. Fifth Third Bancorp now owns 3,783 shares of the company's stock worth $431,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company's stock.

Interparfums Price Performance

IPAR stock traded down $2.76 on Thursday, hitting $115.50. 100,398 shares of the company's stock traded hands, compared to its average volume of 237,311. The company has a current ratio of 2.96, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 23.08 and a beta of 1.43. The stock has a fifty day moving average of $130.27 and a 200-day moving average of $126.24. Interparfums, Inc. has a 1-year low of $97.65 and a 1-year high of $148.15.

Interparfums (NASDAQ:IPAR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.11). Interparfums had a net margin of 11.03% and a return on equity of 16.45%. The company had revenue of $333.94 million for the quarter, compared to analyst estimates of $357.58 million. During the same period last year, the business earned $1.14 EPS. The company's quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts forecast that Interparfums, Inc. will post 5.14 EPS for the current fiscal year.

Interparfums Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Interparfums's dividend payout ratio (DPR) is presently 64.13%.

Analyst Upgrades and Downgrades

IPAR has been the topic of several research reports. Piper Sandler restated an "overweight" rating and issued a $138.00 price target (down previously from $169.00) on shares of Interparfums in a research report on Thursday, April 24th. BWS Financial restated a "buy" rating and issued a $172.00 price target on shares of Interparfums in a report on Wednesday, May 7th.

Insider Activity at Interparfums

In other Interparfums news, Director Gilbert Harrison sold 400 shares of Interparfums stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $133.96, for a total transaction of $53,584.00. Following the sale, the director directly owned 1,550 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, VP Philippe Santi sold 1,000 shares of Interparfums stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $139.23, for a total value of $139,230.00. The disclosure for this sale can be found here. 43.70% of the stock is currently owned by company insiders.

About Interparfums

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.