Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 42.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,463 shares of the company's stock after selling 9,787 shares during the period. Russell Investments Group Ltd.'s holdings in Inter Parfums were worth $1,771,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in IPAR. HighTower Advisors LLC raised its stake in shares of Inter Parfums by 15.7% in the 3rd quarter. HighTower Advisors LLC now owns 2,966 shares of the company's stock valued at $384,000 after acquiring an additional 403 shares in the last quarter. Barclays PLC increased its position in Inter Parfums by 293.0% in the 3rd quarter. Barclays PLC now owns 34,689 shares of the company's stock valued at $4,492,000 after acquiring an additional 25,862 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Inter Parfums by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company's stock worth $56,481,000 after buying an additional 5,056 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Inter Parfums during the 3rd quarter worth approximately $259,000. Finally, Synovus Financial Corp grew its position in shares of Inter Parfums by 12.3% during the 3rd quarter. Synovus Financial Corp now owns 4,546 shares of the company's stock worth $589,000 after buying an additional 499 shares during the period. 55.57% of the stock is owned by institutional investors.

Inter Parfums Stock Performance

Shares of IPAR stock traded up $1.73 during mid-day trading on Thursday, reaching $109.39. 61,253 shares of the company's stock traded hands, compared to its average volume of 174,776. 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 $120.57 and a two-hundred day moving average price of $127.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. The firm has a market capitalization of $3.51 billion, a PE ratio of 23.50 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.05). The firm had revenue of $361.50 million for the quarter, compared to analysts' expectations of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. On average, research analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.93%. This is an increase from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums's payout ratio is 62.87%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IPAR. DA Davidson restated a "buy" rating and set a $170.00 target price on shares of Inter Parfums in a report on Tuesday, March 25th. BWS Financial reiterated a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday, March 17th. 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 report on Thursday, February 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $138.00 price objective (down from $169.00) on shares of Inter Parfums in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.