Thrivent Financial for Lutherans Sells 219 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Thrivent Financial for Lutherans trimmed its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,864 shares of the company’s stock after selling 219 shares during the period. Thrivent Financial for Lutherans’ holdings in Inter Parfums were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IPAR. Cibc World Markets Corp purchased a new stake in Inter Parfums during the fourth quarter valued at $224,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Inter Parfums by 7.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company’s stock worth $239,000 after buying an additional 124 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Inter Parfums by 15.2% during the 4th quarter. HighTower Advisors LLC now owns 3,418 shares of the company’s stock valued at $450,000 after buying an additional 452 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Inter Parfums by 677.2% in the 4th quarter. Edgestream Partners L.P. now owns 39,598 shares of the company’s stock valued at $5,208,000 after acquiring an additional 34,503 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Inter Parfums in the 4th quarter valued at about $39,070,000. 55.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IPAR shares. Piper Sandler increased their price target on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. DA Davidson reissued a “buy” rating and issued a $170.00 target price on shares of Inter Parfums in a research note on Tuesday, March 25th. Canaccord Genuity Group raised their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, BWS Financial reiterated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.80.

Inter Parfums Stock Down 3.5 %

NASDAQ:IPAR opened at $117.26 on Friday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 25.16 and a beta of 1.18. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $148.15. 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 stock has a fifty day simple moving average of $133.44 and a 200-day simple moving average of $129.88.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate 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 anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.20 annualized dividend and a yield of 2.73%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio is 62.87%.

About Inter Parfums

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.