State of Alaska Department of Revenue Purchases 1,490 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)
State of Alaska Department of Revenue boosted its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 78.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,380 shares of the company’s stock after buying an additional 1,490 shares during the period. State of Alaska Department of Revenue’s holdings in Inter Parfums were worth $123,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Inter Parfums by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,648,533 shares of the company’s stock valued at $60,254,000 after buying an additional 89,133 shares during the period. Eagle Asset Management Inc. increased its stake in Inter Parfums by 24.1% in the first quarter. Eagle Asset Management Inc. now owns 445,088 shares of the company’s stock valued at $16,267,000 after buying an additional 86,528 shares during the period. Ranger Investment Management L.P. increased its stake in Inter Parfums by 13.8% in the first quarter. Ranger Investment Management L.P. now owns 689,187 shares of the company’s stock valued at $25,190,000 after buying an additional 83,782 shares during the period. Systematic Financial Management LP bought a new stake in Inter Parfums during the first quarter valued at about $1,988,000. Finally, Americafirst Capital Management LLC bought a new stake in Inter Parfums during the first quarter valued at about $1,905,000. Hedge funds and other institutional investors own 54.18% of the company’s stock.
Inter Parfums, Inc. (NASDAQ IPAR) traded down 1.67% during mid-day trading on Friday, hitting $38.35. The stock had a trading volume of 62,265 shares. Inter Parfums, Inc. has a 52 week low of $29.40 and a 52 week high of $41.70. The stock’s 50-day moving average is $37.38 and its 200 day moving average is $36.02. The company has a market capitalization of $1.20 billion, a P/E ratio of 29.73 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $129.10 million for 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 quarter in the previous year, the business earned $0.19 earnings per share. Equities analysts forecast that Inter Parfums, Inc. will post $1.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Thursday, September 28th. Inter Parfums’s dividend payout ratio is currently 52.31%.
Several analysts have recently issued reports on IPAR shares. BidaskClub upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded 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. Jefferies Group LLC started coverage on Inter Parfums in a research note on Friday, June 2nd. They set a “hold” rating and a $35.00 price target for the company. DA Davidson reiterated a “buy” rating and set a $44.00 price target on shares of Inter Parfums in a research note on Monday, May 8th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $45.00 price target (up previously from $42.00) on shares of Inter Parfums in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Inter Parfums presently has a consensus rating of “Buy” and an average target price 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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