Redwood Investments LLC Sells 32,078 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Redwood Investments LLC cut its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 62.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,023 shares of the company's stock after selling 32,078 shares during the quarter. Redwood Investments LLC owned about 0.06% of Inter Parfums worth $2,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in Inter Parfums during the 3rd quarter valued at about $2,199,000. Invesco Ltd. increased its position in Inter Parfums by 94.4% during the third quarter. Invesco Ltd. now owns 276,433 shares of the company's stock worth $37,136,000 after buying an additional 134,243 shares during the period. Teacher Retirement System of Texas increased its position in Inter Parfums by 0.8% during the third quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company's stock worth $1,721,000 after buying an additional 100 shares during the period. Annex Advisory Services LLC acquired a new position in shares of Inter Parfums in the third quarter valued at approximately $8,093,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Inter Parfums by 10.7% in the third quarter. Advisors Asset Management Inc. now owns 22,842 shares of the company's stock valued at $3,069,000 after purchasing an additional 2,202 shares during the period. 55.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their target price on Inter Parfums from $175.00 to $176.00 and gave the company an "overweight" rating in a report on Wednesday, January 24th.

Inter Parfums Price Performance

Shares of Inter Parfums stock traded down $2.20 during trading on Monday, reaching $138.31. The company's stock had a trading volume of 178,515 shares, compared to its average volume of 141,647. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 12-month low of $120.71 and a 12-month high of $161.17. The company has a market capitalization of $4.43 billion, a P/E ratio of 29.12 and a beta of 1.13. The business has a 50 day moving average price of $142.91 and a 200-day moving average price of $136.34.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The business had revenue of $328.74 million during the quarter, compared to analysts' expectations of $329.00 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Inter Parfums, Inc. will post 5.16 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.17%. This is an increase from Inter Parfums's previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. Inter Parfums's payout ratio is presently 63.16%.

Insiders Place Their Bets

In related news, Director Gilbert Harrison sold 250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the sale, the director now owns 1,000 shares of the company's stock, valued at $150,420. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Gilbert Harrison sold 250 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $150,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Philippe Santi sold 1,000 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $137.11, for a total value of $137,110.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,250 shares of company stock worth $445,835. 43.90% of the stock is owned by corporate insiders.

About Inter Parfums

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.