Charles Schwab Investment Management Inc. Acquires 8,729 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 199,060 shares of the company’s stock after acquiring an additional 8,729 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.62% of Inter Parfums worth $26,178,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Inter Parfums by 0.3% during the 3rd quarter. State Street Corp now owns 676,253 shares of the company’s stock worth $87,561,000 after acquiring an additional 2,255 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Inter Parfums by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after acquiring an additional 5,056 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Inter Parfums by 44.2% during the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after acquiring an additional 99,316 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Inter Parfums by 17.2% during the 4th quarter. Bank of New York Mellon Corp now owns 291,575 shares of the company’s stock worth $38,345,000 after acquiring an additional 42,692 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in shares of Inter Parfums by 36.5% during the 4th quarter. Annex Advisory Services LLC now owns 118,390 shares of the company’s stock worth $15,569,000 after acquiring an additional 31,654 shares during the period. 55.57% of the stock is owned by institutional investors.

Inter Parfums Trading Down 1.8 %

Shares of NASDAQ IPAR opened at $124.92 on Tuesday. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $148.15. The company has a market cap of $4.01 billion, a PE ratio of 26.81 and a beta of 1.18. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $135.80 and a two-hundred day moving average of $130.10.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results 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). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. As a group, equities analysts expect that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.80 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.56%. Inter Parfums’s payout ratio is currently 62.87%.

Wall Street Analysts Forecast Growth

IPAR has been the subject of a number of analyst reports. Piper Sandler raised their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BWS Financial reissued a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday. Canaccord Genuity Group lifted their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, DA Davidson lifted their price target on shares of Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.