Panagora Asset Management Inc. trimmed its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,928 shares of the company’s stock after selling 3,044 shares during the quarter. Panagora Asset Management Inc. owned about 0.23% of Inter Parfums worth $4,571,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in Inter Parfums during the second quarter worth approximately $150,000. SG Americas Securities LLC increased its stake in Inter Parfums by 58.6% during the second quarter. SG Americas Securities LLC now owns 4,002 shares of the company’s stock worth $214,000 after acquiring an additional 1,478 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Inter Parfums during the second quarter worth approximately $241,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Inter Parfums during the third quarter worth approximately $265,000. Finally, Victory Capital Management Inc. increased its stake in Inter Parfums by 15.9% during the second quarter. Victory Capital Management Inc. now owns 7,609 shares of the company’s stock worth $407,000 after acquiring an additional 1,045 shares during the last quarter. 55.96% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. DA Davidson boosted their price objective on Inter Parfums to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. BidaskClub raised Inter Parfums from a “hold” rating to a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research raised Inter Parfums from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective on the stock in a research note on Saturday, October 27th. Finally, Citigroup set a $64.00 target price on Inter Parfums and gave the company a “hold” rating in a research note on Wednesday, November 7th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Inter Parfums has an average rating of “Buy” and a consensus target price of $67.80.
IPAR opened at $58.92 on Friday. The company has a market cap of $1.85 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. Inter Parfums, Inc. has a one year low of $41.30 and a one year high of $67.50. The company has a current ratio of 3.36, a quick ratio of 2.37 and a debt-to-equity ratio of 0.05.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Monday, November 5th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $177.21 million for the quarter, compared to analysts’ expectations of $181.14 million. Inter Parfums had a return on equity of 8.60% and a net margin of 7.74%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, equities research analysts predict that Inter Parfums, Inc. will post 1.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.275 per share. This is a boost from Inter Parfums’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, December 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.87%. Inter Parfums’s dividend payout ratio is currently 63.16%.
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About Inter Parfums
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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