JPMorgan Chase & Co. Lowers Position in Inter Parfums, Inc. (IPAR)
JPMorgan Chase & Co. decreased its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 32.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,690 shares of the company’s stock after selling 17,920 shares during the period. JPMorgan Chase & Co. owned approximately 0.12% of Inter Parfums worth $1,341,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Inter Parfums by 5.0% in the first quarter. Envestnet Asset Management Inc. now owns 9,695 shares of the company’s stock valued at $354,000 after buying an additional 464 shares during the last quarter. Mason Street Advisors LLC raised its stake in Inter Parfums by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,001 shares of the company’s stock valued at $146,000 after buying an additional 263 shares during the last quarter. Hancock Holding Co. acquired a new stake in Inter Parfums during the first quarter valued at approximately $877,000. Bahl & Gaynor Inc. raised its stake in Inter Parfums by 12.3% in the first quarter. Bahl & Gaynor Inc. now owns 44,784 shares of the company’s stock valued at $1,637,000 after buying an additional 4,915 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Inter Parfums during the first quarter valued at approximately $830,000. 55.14% of the stock is owned by hedge funds and other institutional investors.
Inter Parfums, Inc. (IPAR) opened at 37.50 on Friday. The stock’s 50 day moving average price is $36.06 and its 200-day moving average price is $35.38. Inter Parfums, Inc. has a 52-week low of $27.05 and a 52-week high of $41.70. The company has a market capitalization of $1.17 billion, a P/E ratio of 29.76 and a beta of 1.76.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. The firm had revenue of $143.10 million for the quarter, compared to analyst estimates of $120.05 million. Inter Parfums had a return on equity of 8.10% and a net margin of 7.12%. The business’s revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. Analysts predict that Inter Parfums, Inc. will post $1.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, June 28th. Inter Parfums’s dividend payout ratio is presently 53.54%.
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A number of brokerages recently issued reports on IPAR. Zacks Investment Research upgraded Inter Parfums from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a research note on Thursday. BidaskClub downgraded Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Jefferies Group LLC began coverage on Inter Parfums in a research note on Friday, June 2nd. They set a “hold” rating and a $35.00 price objective for the company. Finally, DA Davidson reiterated a “buy” rating and set a $44.00 price objective on shares of Inter Parfums in a research note on Monday, May 8th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $39.57.
About Inter Parfums
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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