Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,866 shares of the company’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Inter Parfums were worth $1,853,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Inter Parfums during the fourth quarter worth about $27,000. Point72 Middle East FZE purchased a new stake in shares of Inter Parfums during the fourth quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Inter Parfums during the third quarter worth about $55,000. Ronald Blue Trust Inc. increased its position in shares of Inter Parfums by 112.8% during the third quarter. Ronald Blue Trust Inc. now owns 432 shares of the company’s stock worth $58,000 after acquiring an additional 229 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Inter Parfums by 71.5% during the second quarter. Benjamin Edwards Inc. now owns 542 shares of the company’s stock worth $73,000 after acquiring an additional 226 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their target price on Inter Parfums from $175.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th.

Insider Activity at Inter Parfums

In related news, Director Gilbert Harrison sold 250 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 43.90% of the stock is owned by corporate insiders.

Inter Parfums Stock Up 0.1 %

Shares of NASDAQ IPAR opened at $125.09 on Wednesday. Inter Parfums, Inc. has a 1 year low of $120.71 and a 1 year high of $161.17. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 26.33 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58. The stock’s 50-day simple moving average is $140.55 and its 200-day simple moving average is $135.74.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, equities analysts anticipate that Inter Parfums, Inc. will post 5.16 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.75 dividend. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, March 14th. Inter Parfums’s 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 in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.