Royce & Associates LP Decreases Stock Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Royce & Associates LP trimmed its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 538,592 shares of the company’s stock after selling 56,583 shares during the period. Inter Parfums comprises about 0.7% of Royce & Associates LP’s investment portfolio, making the stock its 19th biggest holding. Royce & Associates LP’s holdings in Inter Parfums were worth $70,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of the business. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Inter Parfums by 7.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company’s stock worth $239,000 after buying an additional 124 shares during the last quarter. HighTower Advisors LLC increased its holdings in Inter Parfums by 15.2% in the 4th quarter. HighTower Advisors LLC now owns 3,418 shares of the company’s stock valued at $450,000 after purchasing an additional 452 shares during the last quarter. Edgestream Partners L.P. boosted its position in Inter Parfums by 677.2% in the 4th quarter. Edgestream Partners L.P. now owns 39,598 shares of the company’s stock valued at $5,208,000 after buying an additional 34,503 shares during the period. Raymond James Financial Inc. purchased a new position in Inter Parfums in the 4th quarter valued at approximately $39,070,000. Finally, Victory Capital Management Inc. boosted its position in 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 buying an additional 200,079 shares during the period. 55.57% of the stock is owned by hedge funds and other institutional investors.

Inter Parfums Stock Performance

Inter Parfums stock opened at $127.22 on Friday. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $148.15. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 27.30 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The firm’s fifty day moving average price is $135.80 and its 200 day moving average price is $130.06.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. On average, research analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. Inter Parfums’s payout ratio is 62.87%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. BWS Financial reiterated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research note on Monday, January 27th. Finally, DA Davidson boosted their price target on shares of Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.80.

Inter Parfums 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.