T. Rowe Price Investment Management Inc. Raises Position in Inter Parfums, Inc. (NASDAQ:IPAR)

T. Rowe Price Investment Management Inc. raised its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,124,728 shares of the company's stock after buying an additional 108,321 shares during the period. T. Rowe Price Investment Management Inc. owned about 3.51% of Inter Parfums worth $147,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Inter Parfums in the fourth quarter valued at approximately $39,070,000. Norges Bank acquired a new position in shares of Inter Parfums in the 4th quarter worth approximately $32,095,000. Victory Capital Management Inc. boosted its stake in shares of Inter Parfums by 55.0% in 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 last quarter. American Century Companies Inc. increased its position in shares of Inter Parfums by 23.3% during the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company's stock worth $59,705,000 after buying an additional 85,871 shares during the period. Finally, Bahl & Gaynor Inc. increased its position in shares of Inter Parfums by 18.5% during the fourth quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company's stock worth $42,326,000 after buying an additional 50,247 shares during the period. Institutional investors and hedge funds own 55.57% of the company's stock.

Inter Parfums Stock Down 1.5 %

Shares of IPAR traded down $1.65 during trading hours on Wednesday, hitting $108.30. The stock had a trading volume of 40,188 shares, compared to its average volume of 176,860. Inter Parfums, Inc. has a 1-year low of $97.65 and a 1-year high of $148.15. The firm has a market capitalization of $3.48 billion, a P/E ratio of 23.24 and a beta of 1.15. The firm has a 50 day simple moving average of $118.02 and a 200-day simple moving average of $127.20. 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. Sell-side analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. Inter Parfums's dividend payout ratio (DPR) is 62.87%.

Analysts Set New Price Targets

IPAR has been the topic of a number of research analyst reports. BWS Financial reaffirmed a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a research report on Monday, March 17th. Canaccord Genuity Group upped their target price on Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. DA Davidson reiterated a "buy" rating and issued a $170.00 target price on shares of Inter Parfums in a report on Tuesday, March 25th. Finally, Piper Sandler reissued an "overweight" rating and issued a $138.00 price target (down from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $157.60.

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.