Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System lowered its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,700 shares of the company’s stock after selling 1,400 shares during the period. California Public Employees Retirement System’s holdings in Inter Parfums were worth $1,159,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IPAR. SG Americas Securities LLC purchased a new position in Inter Parfums during the first quarter worth about $107,000. US Bancorp DE raised its position in Inter Parfums by 45.4% in the first quarter. US Bancorp DE now owns 3,187 shares of the company’s stock worth $116,000 after buying an additional 995 shares during the last quarter. Victory Capital Management Inc. raised 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 during the last quarter. Bank of Montreal Can raised its position in Inter Parfums by 13.0% in the first quarter. Bank of Montreal Can now owns 3,733 shares of the company’s stock worth $137,000 after buying an additional 430 shares during the last quarter. Finally, Dubuque Bank & Trust Co. purchased a new position in Inter Parfums during the first quarter worth about $139,000. 54.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Inter Parfums, Inc. (IPAR) opened at 38.90 on Thursday. The firm’s 50-day moving average price is $37.25 and its 200-day moving average price is $35.95. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 30.16 and a beta of 1.77. Inter Parfums, Inc. has a 12 month low of $29.40 and a 12 month high of $41.70.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $129.10 million during the quarter, compared to the consensus estimate of $122.57 million. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. Inter Parfums’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. On average, equities analysts anticipate that Inter Parfums, Inc. will post $1.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.68 annualized dividend and a yield of 1.74%. Inter Parfums’s dividend payout ratio (DPR) is presently 52.31%.
A number of research analysts recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $45.00 target price (up from $44.00) on shares of Inter Parfums in a report on Thursday. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price target (up previously from $42.00) on shares of Inter Parfums in a research note on Thursday. BidaskClub raised Inter Parfums from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research cut Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC began coverage on Inter Parfums in a research note on Friday, June 2nd. They issued a “hold” rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $40.43.
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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