US Bancorp DE Reduces Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

US Bancorp DE decreased its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 26.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,059 shares of the company’s stock after selling 1,813 shares during the period. US Bancorp DE’s holdings in Inter Parfums were worth $665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings 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 acquiring an additional 81 shares in the last quarter. SRH Advisors LLC raised its holdings in shares of Inter Parfums by 791.7% during the 4th quarter. SRH Advisors LLC now owns 535 shares of the company’s stock valued at $70,000 after buying an additional 475 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new position in shares of Inter Parfums during the 3rd quarter valued at about $104,000. Blue Trust Inc. raised its holdings in shares of Inter Parfums by 25.7% during the 4th quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $106,000 after buying an additional 167 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of Inter Parfums by 15.1% during the 4th quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock valued at $174,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Price Performance

Shares of Inter Parfums stock opened at $128.87 on Wednesday. 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 business’s 50 day simple moving average is $136.04 and its two-hundred day simple moving average is $130.03. The stock has a market capitalization of $4.13 billion, a P/E ratio of 27.65 and a beta of 1.18. Inter Parfums, Inc. has a one year low of $108.39 and a one year high of $148.15.

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

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.48%. Inter Parfums’s payout ratio is 62.87%.

Analyst Ratings Changes

A number of brokerages recently weighed in on IPAR. DA Davidson raised their price objective on Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Piper Sandler raised their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Canaccord Genuity Group raised their price objective on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, BWS Financial reissued a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a report on Monday, January 27th. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

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.