9,000 Shares in Inter Parfums, Inc. (NASDAQ:IPAR) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,000 shares of the company's stock, valued at approximately $1,296,000.

Several other large investors have also added to or reduced their stakes in IPAR. Invesco Ltd. grew its holdings in shares of Inter Parfums by 94.4% in the third quarter. Invesco Ltd. now owns 276,433 shares of the company's stock worth $37,136,000 after purchasing an additional 134,243 shares during the last quarter. Annex Advisory Services LLC purchased a new position in shares of Inter Parfums in the 3rd quarter worth about $8,093,000. Redwood Investments LLC purchased a new position in shares of Inter Parfums in the 3rd quarter worth about $6,865,000. Rathbones Group PLC purchased a new position in shares of Inter Parfums in the 3rd quarter worth about $6,515,000. Finally, Cerity Partners LLC purchased a new position in Inter Parfums in the 4th quarter worth about $6,624,000. Institutional investors and hedge funds own 55.57% of the company's stock.

Insider Buying and Selling at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of the company's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the transaction, the director now owns 1,000 shares of the company's stock, valued at approximately $150,420. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 43.90% of the stock is owned by company insiders.

Inter Parfums Trading Up 1.3 %

NASDAQ:IPAR traded up $1.64 during midday trading on Monday, hitting $129.52. 170,435 shares of the company traded hands, compared to its average volume of 139,030. The firm's fifty day moving average is $139.05 and its 200-day moving average is $135.58. Inter Parfums, Inc. has a 12-month low of $120.71 and a 12-month high of $158.76. The firm has a market capitalization of $4.15 billion, a P/E ratio of 27.27 and a beta of 1.13. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $328.74 million for the quarter, compared to the consensus estimate of $329.00 million. During the same period in the previous year, the business earned $0.71 EPS. Inter Parfums's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Inter Parfums, Inc. will post 5.16 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.75 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Inter Parfums's previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.32%. Inter Parfums's payout ratio is currently 63.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IPAR shares. Piper Sandler boosted their price target on Inter Parfums from $175.00 to $176.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. BWS Financial restated a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a research note on Wednesday, April 17th.

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.