Stifel Financial Corp lifted its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 40.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 291,448 shares of the company’s stock after purchasing an additional 83,257 shares during the quarter. Stifel Financial Corp owned 0.93% of Inter Parfums worth $19,112,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Northern Trust Corp boosted its stake in Inter Parfums by 2.1% in the 4th quarter. Northern Trust Corp now owns 735,302 shares of the company’s stock worth $48,214,000 after purchasing an additional 15,055 shares during the period. Citigroup Inc. boosted its stake in Inter Parfums by 15.7% in the 4th quarter. Citigroup Inc. now owns 12,485 shares of the company’s stock worth $819,000 after purchasing an additional 1,692 shares during the period. Royce & Associates LP boosted its stake in Inter Parfums by 6.6% in the 4th quarter. Royce & Associates LP now owns 410,756 shares of the company’s stock worth $26,933,000 after purchasing an additional 25,412 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Inter Parfums in the 4th quarter worth about $215,000. Finally, Eagle Asset Management Inc. boosted its stake in Inter Parfums by 0.6% in the 4th quarter. Eagle Asset Management Inc. now owns 202,278 shares of the company’s stock worth $13,263,000 after purchasing an additional 1,280 shares during the period. 55.88% of the stock is currently owned by institutional investors.
IPAR has been the subject of several analyst reports. BidaskClub downgraded Inter Parfums from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 9th. Zacks Investment Research upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Friday, March 8th. BWS Financial downgraded Inter Parfums from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Friday, December 28th. DA Davidson cut Inter Parfums from a “buy” rating to a “neutral” rating and raised their price target for the company from $72.00 to $84.00 in a report on Tuesday, March 5th. Finally, Citigroup raised their price target on Inter Parfums from $64.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Inter Parfums currently has a consensus rating of “Buy” and a consensus price target of $76.33.
Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Monday, March 4th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.07. Inter Parfums had a return on equity of 9.17% and a net margin of 7.96%. The firm had revenue of $177.20 million for the quarter, compared to analysts’ expectations of $169.80 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s revenue was up 18.5% compared to the same quarter last year. As a group, research analysts expect that Inter Parfums, Inc. will post 1.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.275 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.10 annualized dividend and a dividend yield of 1.46%. Inter Parfums’s payout ratio is currently 64.33%.
In related news, CFO Russell Greenberg sold 8,941 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $67.98, for a total transaction of $607,809.18. Following the transaction, the chief financial officer now directly owns 3,941 shares of the company’s stock, valued at approximately $267,909.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pelayo Frederic Garcia sold 2,277 shares of the firm’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $64.36, for a total value of $146,547.72. Following the transaction, the insider now directly owns 293 shares in the company, valued at $18,857.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,149 shares of company stock worth $3,472,662. Insiders own 45.00% of the company’s stock.
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Inter Parfums Company 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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