Envestnet Asset Management Inc. reduced its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,465 shares of the company’s stock after selling 572 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Inter Parfums worth $1,222,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System raised its position in shares of Inter Parfums by 31.3% during the second quarter. New York State Teachers Retirement System now owns 10,075 shares of the company’s stock worth $670,000 after purchasing an additional 2,400 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Inter Parfums by 19.0% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,620 shares of the company’s stock worth $1,172,000 after purchasing an additional 2,810 shares during the period. Huntington National Bank raised its position in shares of Inter Parfums by 13.4% during the second quarter. Huntington National Bank now owns 2,193 shares of the company’s stock worth $146,000 after purchasing an additional 259 shares during the period. Smith Asset Management Group LP bought a new stake in Inter Parfums during the second quarter worth $174,000. Finally, First Trust Advisors LP grew its holdings in Inter Parfums by 48.1% during the second quarter. First Trust Advisors LP now owns 89,906 shares of the company’s stock worth $5,978,000 after buying an additional 29,215 shares in the last quarter. 55.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:IPAR traded down $0.98 on Friday, hitting $70.49. The company’s stock had a trading volume of 35,793 shares, compared to its average volume of 128,157. The company has a 50-day simple moving average of $73.66 and a 200 day simple moving average of $68.43. Inter Parfums, Inc. has a 1 year low of $58.21 and a 1 year high of $81.40. The company has a market capitalization of $2.22 billion, a PE ratio of 41.22, a PEG ratio of 2.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 2.24.
Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.18 million. Inter Parfums had a net margin of 8.43% and a return on equity of 10.15%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. On average, equities research analysts expect that Inter Parfums, Inc. will post 1.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 30th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.28. This represents a $1.32 annualized dividend and a dividend yield of 1.87%. Inter Parfums’s dividend payout ratio is 64.33%.
In other news, CFO Russell Greenberg sold 2,434 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $68.50, for a total transaction of $166,729.00. Following the transaction, the chief financial officer now directly owns 66 shares in the company, valued at approximately $4,521. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 11,933 shares of company stock worth $824,315 over the last quarter. Corporate insiders own 44.60% of the company’s stock.
Several equities research analysts recently issued reports on IPAR shares. DA Davidson decreased their price target on Inter Parfums from $82.00 to $76.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. BidaskClub downgraded Inter Parfums from a “hold” rating to a “sell” rating in a report on Wednesday. Citigroup upped their price target on Inter Parfums from $73.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Zacks Investment Research downgraded Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $76.60.
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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