Bank of New York Mellon Corp raised its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 478,231 shares of the company’s stock after buying an additional 31,499 shares during the quarter. Bank of New York Mellon Corp’s holdings in Inter Parfums were worth $25,585,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Granite Investment Partners LLC lifted its position in Inter Parfums by 0.5% during the second quarter. Granite Investment Partners LLC now owns 276,657 shares of the company’s stock valued at $14,801,000 after buying an additional 1,312 shares during the period. Sei Investments Co. lifted its position in Inter Parfums by 84.8% during the second quarter. Sei Investments Co. now owns 10,599 shares of the company’s stock valued at $568,000 after buying an additional 4,863 shares during the period. Alps Advisors Inc. bought a new position in shares of Inter Parfums during the second quarter valued at $505,000. Victory Capital Management Inc. increased its holdings in shares of Inter Parfums by 15.9% during the second quarter. Victory Capital Management Inc. now owns 7,609 shares of the company’s stock valued at $407,000 after acquiring an additional 1,045 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Inter Parfums by 798.3% during the second quarter. First Trust Advisors LP now owns 74,228 shares of the company’s stock valued at $3,971,000 after acquiring an additional 65,965 shares in the last quarter. 56.48% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Russell Greenberg sold 1,059 shares of Inter Parfums stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $66.50, for a total value of $70,423.50. Following the completion of the sale, the chief financial officer now directly owns 44 shares in the company, valued at approximately $2,926. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Philippe Santi sold 3,600 shares of Inter Parfums stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $10,523.10, for a total value of $37,883,160.00. The disclosure for this sale can be found here. Insiders sold a total of 8,259 shares of company stock valued at $38,188,304 over the last quarter. 45.00% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on IPAR. BidaskClub downgraded Inter Parfums from a “strong-buy” rating to a “buy” rating in a report on Tuesday. DA Davidson raised their price target on Inter Parfums to $72.00 and gave the company a “buy” rating in a report on Friday, August 10th. BWS Financial raised their price target on Inter Parfums to $75.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Citigroup raised their price target on Inter Parfums from $50.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Finally, Jefferies Financial Group set a $60.00 price target on Inter Parfums and gave the company a “hold” rating in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Inter Parfums presently has a consensus rating of “Buy” and a consensus price target of $61.50.

Shares of NASDAQ:IPAR opened at $62.45 on Friday. Inter Parfums, Inc. has a 1-year low of $39.10 and a 1-year high of $67.50. The company has a quick ratio of 2.18, a current ratio of 3.17 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.96 billion, a PE ratio of 46.58, a P/E/G ratio of 3.20 and a beta of 1.43.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.09. Inter Parfums had a return on equity of 8.37% and a net margin of 7.54%. The firm had revenue of $149.37 million during the quarter, compared to the consensus estimate of $149.42 million. sell-side analysts predict that Inter Parfums, Inc. will post 1.6 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.35%. Inter Parfums’s payout ratio is 63.16%.

Inter Parfums Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.

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Institutional Ownership by Quarter for Inter Parfums (NASDAQ:IPAR)

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