Bank of America Corp DE decreased its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 230,327 shares of the company’s stock after selling 11,960 shares during the period. Bank of America Corp DE owned 0.74% of Inter Parfums worth $12,322,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Inter Parfums in the 1st quarter valued at $119,000. Itau Unibanco Holding S.A. acquired a new position in shares of Inter Parfums in the 2nd quarter valued at $150,000. BB&T Securities LLC acquired a new position in shares of Inter Parfums in the 1st quarter valued at $202,000. Piedmont Investment Advisors LLC acquired a new position in shares of Inter Parfums in the 2nd quarter valued at $215,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Inter Parfums in the 2nd quarter valued at $241,000. Institutional investors and hedge funds own 56.47% of the company’s stock.
In other news, insider Pelayo Frederic Garcia sold 3,600 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $65.20, for a total value of $234,720.00. Following the completion of the sale, the insider now owns 1,000 shares in the company, valued at approximately $65,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Russell Greenberg sold 1,059 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $66.50, for a total transaction of $70,423.50. Following the completion of the sale, the chief financial officer now owns 44 shares of the company’s stock, valued at approximately $2,926. 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 in the last 90 days. Company insiders own 45.00% of the company’s stock.
Several research analysts have recently issued reports on IPAR shares. BidaskClub cut shares of Inter Parfums from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research cut shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. DA Davidson increased their price target on shares of Inter Parfums to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. BWS Financial increased their price target on shares of Inter Parfums to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Jefferies Financial Group set a $60.00 price target on shares of Inter Parfums and gave the stock a “hold” rating in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.33.
Shares of NASDAQ:IPAR opened at $56.17 on Friday. The firm has a market cap of $2.02 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 3.30 and a beta of 1.39. The company has a quick ratio of 2.18, a current ratio of 3.17 and a debt-to-equity ratio of 0.06. Inter Parfums, Inc. has a 1-year low of $39.10 and a 1-year high of $67.50.
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, topping the Zacks’ consensus estimate of $0.26 by $0.09. The firm had revenue of $149.37 million during the quarter, compared to analysts’ expectations of $149.42 million. Inter Parfums had a net margin of 7.54% and a return on equity of 8.37%. As a group, research analysts expect that Inter Parfums, Inc. will post 1.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Thursday, September 27th. Inter Parfums’s dividend payout ratio is currently 63.16%.
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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