New York State Teachers Retirement System Sells 100 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

New York State Teachers Retirement System reduced its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,707 shares of the company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Inter Parfums were worth $1,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moody Aldrich Partners LLC increased its stake in shares of Inter Parfums by 34.4% in the third quarter. Moody Aldrich Partners LLC now owns 38,157 shares of the company’s stock valued at $4,941,000 after buying an additional 9,774 shares during the period. Berry Wealth Group LP lifted its stake in shares of Inter Parfums by 18.8% in the third quarter. Berry Wealth Group LP now owns 2,197 shares of the company’s stock worth $284,000 after acquiring an additional 347 shares during the period. Blue Trust Inc. boosted its holdings in Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after acquiring an additional 296 shares during the last quarter. Creative Planning increased its position in Inter Parfums by 36.3% during the 3rd quarter. Creative Planning now owns 3,104 shares of the company’s stock valued at $402,000 after purchasing an additional 826 shares during the period. Finally, Annex Advisory Services LLC raised its holdings in Inter Parfums by 32.4% during the 3rd quarter. Annex Advisory Services LLC now owns 86,736 shares of the company’s stock worth $11,231,000 after purchasing an additional 21,211 shares during the last quarter. 55.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IPAR has been the subject of several recent analyst reports. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. BWS Financial reiterated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Wednesday, October 23rd. Piper Sandler restated an “overweight” rating and set a $151.00 target price (up previously from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. Finally, DA Davidson reiterated a “buy” rating and issued a $163.00 target price on shares of Inter Parfums in a report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Insider Buying and Selling

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 43.90% of the stock is owned by corporate insiders.

Inter Parfums Stock Performance

IPAR opened at $128.23 on Friday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 27.52 and a beta of 1.16. The company’s fifty day moving average price is $122.32 and its two-hundred day moving average price is $122.37. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $156.75. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.72%. The company had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. During the same quarter in the prior year, the business posted $1.66 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, analysts expect that Inter Parfums, Inc. will post 5.17 EPS for the current fiscal year.

Inter Parfums Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Monday, December 16th. Inter Parfums’s payout ratio is currently 64.38%.

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.