Ameriprise Financial Inc. Decreases Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Ameriprise Financial Inc. lessened its holdings in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,090 shares of the company's stock after selling 2,337 shares during the quarter. Ameriprise Financial Inc. owned 0.62% of Inter Parfums worth $25,919,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Inter Parfums by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company's stock worth $269,677,000 after purchasing an additional 20,721 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Inter Parfums by 10.7% in 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 during the period. Victory Capital Management Inc. raised its stake in shares of Inter Parfums by 55.0% during the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company's stock valued at $74,125,000 after purchasing an additional 200,079 shares during the period. American Century Companies Inc. grew its position in shares of Inter Parfums by 23.3% during the 4th quarter. American Century Companies Inc. now owns 453,993 shares of the company's stock valued at $59,705,000 after purchasing an additional 85,871 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Inter Parfums by 4.1% during the 4th quarter. Invesco Ltd. now owns 362,518 shares of the company's stock valued at $47,675,000 after purchasing an additional 14,254 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Stock Performance

NASDAQ:IPAR traded up $1.40 during midday trading on Tuesday, hitting $129.57. The company's stock had a trading volume of 6,282 shares, compared to its average volume of 183,335. The firm's 50 day moving average is $113.71 and its 200-day moving average is $127.06. The firm has a market cap of $4.16 billion, a P/E ratio of 27.78 and a beta of 1.33. Inter Parfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.19. The firm had revenue of $339.00 million for the quarter, compared to analyst estimates 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 was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. Equities analysts anticipate that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.47%. The ex-dividend date was Friday, March 14th. This is a boost from Inter Parfums's previous quarterly dividend of $0.75. Inter Parfums's dividend payout ratio (DPR) is currently 62.26%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. DA Davidson reiterated a "buy" rating and set a $170.00 price target on shares of Inter Parfums in a research 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 research note on Wednesday, May 7th. Canaccord Genuity Group increased their target price on Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $138.00 price objective (down from $169.00) on shares of Inter Parfums in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Inter Parfums presently has an average rating of "Moderate Buy" and an average target price of $157.60.

Insider Transactions at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 43.90% of the company's stock.

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.