New York State Common Retirement Fund Sells 32,235 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

New York State Common Retirement Fund lessened its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 65.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,047 shares of the company’s stock after selling 32,235 shares during the period. New York State Common Retirement Fund owned 0.05% of Inter Parfums worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in IPAR. Victory Capital Management Inc. raised its stake in Inter Parfums by 5,393.6% in the 3rd quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock valued at $47,075,000 after acquiring an additional 356,949 shares during the period. Wellington Management Group LLP raised its stake in Inter Parfums by 44.2% in the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock valued at $41,934,000 after acquiring an additional 99,316 shares during the period. Annex Advisory Services LLC raised its stake in Inter Parfums by 36.5% in the 4th quarter. Annex Advisory Services LLC now owns 118,390 shares of the company’s stock valued at $15,569,000 after acquiring an additional 31,654 shares during the period. Barclays PLC raised its stake in Inter Parfums by 293.0% in the 3rd quarter. Barclays PLC now owns 34,689 shares of the company’s stock valued at $4,492,000 after acquiring an additional 25,862 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in Inter Parfums during the 3rd quarter worth $3,111,000. Institutional investors own 55.57% of the company’s stock.

Analysts Set New Price Targets

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

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $138.92 on Friday. The stock’s 50 day moving average is $135.89 and its 200-day moving average is $129.68. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $152.33. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 29.81 and a beta of 1.20. 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 results on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $361.50 million for the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Sell-side analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.80 per share. 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 dividend on an annualized basis and a yield of 2.30%. Inter Parfums’s dividend payout ratio is 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.