Principal Financial Group Inc. Increases Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Principal Financial Group Inc. raised its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,539 shares of the company’s stock after acquiring an additional 2,548 shares during the period. Principal Financial Group Inc. owned 0.27% of Inter Parfums worth $11,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in IPAR. GAMMA Investing LLC boosted its position in shares of Inter Parfums by 55.9% in the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after purchasing an additional 81 shares during the period. SRH Advisors LLC boosted its holdings in shares of Inter Parfums by 791.7% in the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock valued at $70,000 after acquiring an additional 475 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in shares of Inter Parfums in the third quarter valued at approximately $104,000. Blue Trust Inc. grew its position in shares of Inter Parfums by 25.7% during the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after acquiring an additional 167 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Inter Parfums by 15.1% in the 4th quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock valued at $174,000 after acquiring an additional 174 shares during the period. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Analyst Ratings Changes

IPAR has been the subject of a number of recent research reports. DA Davidson increased 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. Canaccord Genuity Group increased their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler boosted their price target on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.80.

Inter Parfums Stock Down 2.9 %

Shares of NASDAQ:IPAR opened at $140.29 on Friday. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 30.11 and a beta of 1.20. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $152.33. The firm’s 50-day simple moving average is $135.47 and its 200-day simple moving average is $129.52. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The business had revenue of $361.50 million during the quarter, compared to analysts’ expectations of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. As a group, equities research analysts predict that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.80 dividend. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.20 annualized dividend and a yield of 2.28%. Inter Parfums’s dividend payout ratio is presently 58.94%.

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.