Steward Partners Investment Advisory LLC Purchases 1,095 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Steward Partners Investment Advisory LLC grew its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 36.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,108 shares of the company’s stock after purchasing an additional 1,095 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Inter Parfums were worth $540,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in Inter Parfums by 23.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,650 shares of the company’s stock valued at $215,000 after purchasing an additional 310 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 valued at $38,345,000 after acquiring an additional 42,692 shares during the period. Truist Financial Corp increased its holdings in shares of Inter Parfums by 1.1% in the fourth quarter. Truist Financial Corp now owns 17,583 shares of the company’s stock worth $2,312,000 after purchasing an additional 184 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Inter Parfums by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 87,539 shares of the company’s stock worth $11,512,000 after purchasing an additional 2,548 shares during the period. Finally, Monument Capital Management bought a new position in Inter Parfums in the fourth quarter valued at $362,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on IPAR. Piper Sandler upped their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group raised their price objective 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. DA Davidson lifted their target price 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. Finally, BWS Financial reiterated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, January 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Price Performance

Shares of IPAR opened at $128.91 on Thursday. The firm has a market cap of $4.13 billion, a PE ratio of 27.66 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 firm has a fifty day simple moving average of $135.99 and a two-hundred day simple moving average of $130.05. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $148.15.

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

Inter Parfums Increases Dividend

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

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.