Inter Parfums, Inc. (NASDAQ:IPAR) Stake Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,945 shares of the company’s stock after selling 2,200 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of Inter Parfums worth $10,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Invesco Ltd. increased its position in Inter Parfums by 94.4% in the third quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock worth $37,136,000 after buying an additional 134,243 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Inter Parfums by 10.8% in the 3rd quarter. William Blair Investment Management LLC now owns 243,675 shares of the company’s stock worth $32,735,000 after acquiring an additional 23,838 shares during the period. Lord Abbett & CO. LLC lifted its position in Inter Parfums by 1.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 202,451 shares of the company’s stock valued at $27,197,000 after purchasing an additional 3,774 shares during the last quarter. WCM Investment Management LLC boosted its stake in Inter Parfums by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 200,336 shares of the company’s stock valued at $29,592,000 after purchasing an additional 17,079 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Inter Parfums by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 178,867 shares of the company’s stock worth $24,029,000 after purchasing an additional 10,714 shares during the last quarter. Institutional investors own 55.57% of the company’s stock.

Inter Parfums Stock Performance

IPAR opened at $119.11 on Monday. The business has a 50 day moving average price of $133.17 and a two-hundred day moving average price of $135.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 25.08 and a beta of 1.19. Inter Parfums, Inc. has a 1-year low of $114.88 and a 1-year high of $156.75.

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 analyst estimates of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. Research analysts predict that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently announced 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 an increase from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Thursday, March 14th. Inter Parfums’s payout ratio is presently 63.16%.

Analyst Upgrades and Downgrades

IPAR has been the subject of several analyst reports. BWS Financial reiterated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, April 17th. Piper Sandler reduced their price target on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, DA Davidson reissued a “buy” rating and set a $192.00 price target on shares of Inter Parfums in a report on Friday, April 26th.

Insider Activity at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $150,420. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 43.90% of the company’s stock.

Inter Parfums 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.