Westwood Holdings Group Inc. Takes Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Westwood Holdings Group Inc. purchased a new stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 354,715 shares of the company's stock, valued at approximately $46,649,000. Westwood Holdings Group Inc. owned approximately 1.11% of Inter Parfums as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IPAR. Coppell Advisory Solutions LLC lifted its position in shares of Inter Parfums by 210.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company's stock valued at $67,000 after buying an additional 347 shares during the last quarter. SRH Advisors LLC lifted its position in shares of Inter Parfums by 791.7% during the 4th quarter. SRH Advisors LLC now owns 535 shares of the company's stock valued at $70,000 after acquiring an additional 475 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Inter Parfums by 100.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 800 shares of the company's stock worth $105,000 after acquiring an additional 400 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Inter Parfums by 25.7% in the 4th quarter. Blue Trust Inc. now owns 818 shares of the company's stock valued at $106,000 after purchasing an additional 167 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Inter Parfums by 23.8% in the 4th quarter. Lazard Asset Management LLC now owns 1,263 shares of the company's stock valued at $166,000 after acquiring an additional 243 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Inter Parfums

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $122.15, for a total value of $183,225.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 43.90% of the company's stock.

Inter Parfums Trading Up 1.3%

Shares of Inter Parfums stock opened at $126.73 on Monday. The stock has a 50 day moving average price of $113.72 and a two-hundred day moving average price of $127.01. The stock has a market capitalization of $4.07 billion, a PE ratio of 27.20 and a beta of 1.33. Inter Parfums, Inc. has a 52 week low of $97.65 and a 52 week high of $148.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.19. The company had revenue of $339.00 million during the quarter, compared to analyst estimates of $329.21 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Inter Parfums's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $1.27 earnings per share. As a group, equities analysts anticipate that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.80 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.20 annualized dividend and a yield of 2.53%. This is an increase from Inter Parfums's previous quarterly dividend of $0.75. Inter Parfums's payout ratio is presently 62.26%.

Wall Street Analysts Forecast Growth

IPAR has been the topic of a number of analyst reports. Canaccord Genuity Group upped their price target on 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 restated a "buy" rating and issued a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. Piper Sandler reiterated an "overweight" rating and set a $138.00 price objective (down from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. Finally, BWS Financial reissued a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $157.60.

Inter Parfums 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 Inter Parfums, 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.