Bahl & Gaynor Inc. decreased its holdings in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 238,175 shares of the company's stock after selling 17,849 shares during the period. Bahl & Gaynor Inc. owned approximately 0.74% of Inter Parfums worth $34,300,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Invesco Ltd. increased its holdings in shares of Inter Parfums by 94.4% during the 3rd 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 last quarter. William Blair Investment Management LLC increased its holdings in shares of Inter Parfums by 10.8% during the 3rd quarter. William Blair Investment Management LLC now owns 243,675 shares of the company's stock worth $32,735,000 after buying an additional 23,838 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Inter Parfums by 1.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 202,451 shares of the company's stock worth $27,197,000 after buying an additional 3,774 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Inter Parfums by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 200,336 shares of the company's stock worth $29,592,000 after buying an additional 17,079 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Inter Parfums by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 178,867 shares of the company's stock worth $24,029,000 after buying an additional 10,714 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company's stock.
Analysts Set New Price Targets
IPAR has been the subject of a number of recent analyst reports. BWS Financial restated a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a report on Wednesday, April 17th. Piper Sandler lowered their price objective on shares of Inter Parfums from $176.00 to $172.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, DA Davidson reaffirmed a "buy" rating and set a $192.00 price objective on shares of Inter Parfums in a research report on Friday.
Check Out Our Latest Research Report on Inter Parfums
Insider Transactions at Inter Parfums
In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares of the company's stock, valued at approximately $150,420. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 43.90% of the company's stock.
Inter Parfums Stock Up 1.3 %
IPAR stock traded up $1.55 during midday trading on Friday, hitting $119.56. The company's stock had a trading volume of 200,996 shares, compared to its average volume of 132,928. 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 52-week low of $116.75 and a 52-week high of $158.13. The firm has a market capitalization of $3.83 billion, a P/E ratio of 25.17 and a beta of 1.13. The firm has a 50-day simple moving average of $136.61 and a 200-day simple moving average of $135.31.
Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $0.71 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Inter Parfums, Inc. will post 5.15 EPS for the current year.
Inter Parfums Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.75 per share. This is a boost from Inter Parfums's previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, March 14th. Inter Parfums's payout ratio is 63.16%.
Inter Parfums Company Profile
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Free Report)
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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