Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Algert Global LLC

Algert Global LLC reduced its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 43.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,761 shares of the company's stock after selling 28,395 shares during the period. Algert Global LLC owned 0.11% of Inter Parfums worth $4,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IPAR. Coppell Advisory Solutions LLC lifted its position in Inter Parfums by 210.3% in 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 period. T. Rowe Price Investment Management Inc. boosted its stake in Inter Parfums by 10.7% during the fourth 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 in the last quarter. State of Tennessee Department of Treasury grew its holdings in Inter Parfums by 9.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 8,574 shares of the company's stock worth $1,128,000 after acquiring an additional 761 shares during the period. MML Investors Services LLC raised its position in Inter Parfums by 21.6% in the fourth quarter. MML Investors Services LLC now owns 11,410 shares of the company's stock worth $1,501,000 after acquiring an additional 2,027 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Inter Parfums by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 11,067 shares of the company's stock valued at $1,455,000 after purchasing an additional 623 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler reissued an "overweight" rating and set a $138.00 target price (down from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. DA Davidson reissued a "buy" rating and set a $170.00 price objective on shares of Inter Parfums in a research note on Tuesday, March 25th. BWS Financial reaffirmed a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, March 17th. Finally, Canaccord Genuity Group increased 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $157.60.

Inter Parfums Stock Performance

Shares of Inter Parfums stock opened at $110.37 on Tuesday. Inter Parfums, Inc. has a 12 month low of $97.65 and a 12 month high of $148.15. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.55 billion, a PE ratio of 23.68 and a beta of 1.33. The business has a fifty day simple moving average of $115.74 and a 200-day simple moving average of $126.99.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.19. The company had revenue of $339.00 million for the quarter, compared to analysts' expectations of $329.21 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 EPS. On average, sell-side analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from Inter Parfums's previous quarterly dividend of $0.75. Inter Parfums's dividend payout ratio (DPR) is 62.87%.

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.

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