Inter Parfums, Inc. (IPAR) Shares Sold by American International Group Inc.
American International Group Inc. decreased its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 15.6% during the first quarter, Holdings Channel reports. The firm owned 10,753 shares of the company’s stock after selling 1,994 shares during the period. American International Group Inc.’s holdings in Inter Parfums were worth $393,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of IPAR. Arizona State Retirement System boosted its position in Inter Parfums by 1.1% in the first quarter. Arizona State Retirement System now owns 8,909 shares of the company’s stock worth $326,000 after buying an additional 100 shares in the last quarter. Victory Capital Management Inc. boosted its position in Inter Parfums by 39.4% in the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after buying an additional 985 shares in the last quarter. SG Americas Securities LLC bought a new position in Inter Parfums during the first quarter worth approximately $107,000. Stifel Financial Corp boosted its position in Inter Parfums by 19.3% in the first quarter. Stifel Financial Corp now owns 317,683 shares of the company’s stock worth $11,621,000 after buying an additional 51,434 shares in the last quarter. Finally, KBC Group NV boosted its position in Inter Parfums by 52.9% in the first quarter. KBC Group NV now owns 23,495 shares of the company’s stock worth $859,000 after buying an additional 8,130 shares in the last quarter. 55.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of Inter Parfums, Inc. (NASDAQ:IPAR) opened at 36.25 on Tuesday. Inter Parfums, Inc. has a 52 week low of $27.05 and a 52 week high of $41.70. The stock has a 50 day moving average of $35.66 and a 200-day moving average of $35.14. The stock has a market cap of $1.13 billion, a PE ratio of 28.77 and a beta of 1.76.
Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, May 9th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Inter Parfums had a net margin of 7.12% and a return on equity of 8.10%. The firm had revenue of $143.10 million during the quarter, compared to analyst estimates of $120.05 million. During the same period last year, the firm posted $0.24 earnings per share. Inter Parfums’s revenue for the quarter was up 28.3% compared to the same quarter last year. Equities research analysts predict that Inter Parfums, Inc. will post $1.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, June 28th. Inter Parfums’s dividend payout ratio (DPR) is presently 53.54%.
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IPAR has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and issued a $44.00 price target on shares of Inter Parfums in a research note on Monday, May 8th. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Monday, May 1st. BidaskClub raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, Jefferies Group LLC initiated coverage on shares of Inter Parfums in a research note on Friday, June 2nd. They issued a “hold” rating and a $35.00 price target for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $39.57.
Inter Parfums Company Profile
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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