Inter Parfums Inc. (IPAR) to Issue Quarterly Dividend of $0.15 on October 14th
Inter Parfums Inc. (NASDAQ:IPAR) declared a quarterly dividend on Wednesday, August 10th. Shareholders of record on Friday, September 30th will be given a dividend of 0.15 per share on Friday, October 14th. This represents a $0.60 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, September 28th.
In other Inter Parfums news, CFO Russell Greenberg sold 2,677 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $34.80, for a total value of $93,159.60. Following the completion of the sale, the chief financial officer now owns 677 shares in the company, valued at $23,559.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Henry B. Clarke sold 5,582 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $34.50, for a total value of $192,579.00. Following the completion of the sale, the insider now owns 2,707 shares of the company’s stock, valued at approximately $93,391.50. The disclosure for this sale can be found here. 45.50% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in IPAR. Parametric Portfolio Associates LLC increased its stake in shares of Inter Parfums by 4.5% in the second quarter. Parametric Portfolio Associates LLC now owns 62,898 shares of the company’s stock valued at $1,797,000 after buying an additional 2,737 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Inter Parfums during the second quarter valued at $232,000. KCG Holdings Inc. bought a new stake in shares of Inter Parfums during the second quarter valued at $219,000. Atlanta Capital Management Co. L L C increased its stake in shares of Inter Parfums by 4.6% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,141,886 shares of the company’s stock valued at $32,624,000 after buying an additional 50,385 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Inter Parfums by 7.9% in the second quarter. Thrivent Financial for Lutherans now owns 8,340 shares of the company’s stock valued at $238,000 after buying an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 54.37% of the company’s stock.
Shares of Inter Parfums (NASDAQ:IPAR) opened at 31.94 on Friday. Inter Parfums has a 52-week low of $20.37 and a 52-week high of $35.07. The company has a 50-day moving average of $33.52 and a 200 day moving average of $30.72. The firm has a market cap of $992.06 million, a P/E ratio of 33.98 and a beta of 1.60.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Inter Parfums had a return on equity of 6.27% and a net margin of 6.02%. The firm earned $117.20 million during the quarter, compared to the consensus estimate of $116.16 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that Inter Parfums will post $1.09 earnings per share for the current year.
Several research firms have issued reports on IPAR. B. Riley restated a “buy” rating and set a $40.00 price target on shares of Inter Parfums in a report on Friday, August 12th. TheStreet raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Citigroup Inc. raised their price objective on shares of Inter Parfums from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Brean Capital raised their price objective on shares of Inter Parfums from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $33.00 price objective (up previously from $29.00) on shares of Inter Parfums in a research report on Saturday, August 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $36.71.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.
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