Bank of New York Mellon Corp lessened its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 17.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 480,449 shares of the company’s stock after selling 102,553 shares during the period. Bank of New York Mellon Corp owned 1.54% of Inter Parfums worth $20,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new position in Inter Parfums in the fourth quarter valued at about $206,000. Campbell & CO Investment Adviser LLC purchased a new position in Inter Parfums in the third quarter valued at about $218,000. Victory Capital Management Inc. grew its stake in Inter Parfums by 38.8% in the third quarter. Victory Capital Management Inc. now owns 5,686 shares of the company’s stock valued at $235,000 after purchasing an additional 1,589 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Inter Parfums in the fourth quarter valued at about $258,000. Finally, Allianz Asset Management GmbH purchased a new position in Inter Parfums in the third quarter valued at about $268,000. Institutional investors own 55.05% of the company’s stock.
Shares of IPAR stock opened at $47.95 on Wednesday. The company has a quick ratio of 2.47, a current ratio of 3.29 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1,536.96, a PE ratio of 35.71, a price-to-earnings-growth ratio of 2.68 and a beta of 1.70. Inter Parfums, Inc. has a twelve month low of $34.05 and a twelve month high of $49.30.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Tuesday, March 13th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $149.50 million during the quarter, compared to the consensus estimate of $147.98 million. Inter Parfums had a return on equity of 7.68% and a net margin of 7.03%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. sell-side analysts forecast that Inter Parfums, Inc. will post 1.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, March 28th. Inter Parfums’s dividend payout ratio is presently 62.69%.
Several research firms have issued reports on IPAR. Zacks Investment Research upgraded Inter Parfums from a “sell” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, January 16th. BidaskClub lowered Inter Parfums from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. KeyCorp lowered Inter Parfums from an “overweight” rating to a “sector weight” rating in a research note on Monday, January 22nd. Citigroup lowered Inter Parfums from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research note on Monday, January 22nd. Finally, BWS Financial set a $56.00 target price on Inter Parfums and gave the company a “buy” rating in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $47.67.
In other Inter Parfums news, CFO Russell Greenberg sold 7,595 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $47.59, for a total value of $361,446.05. Following the completion of the sale, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $237,950. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 15,595 shares of company stock valued at $733,946. Corporate insiders own 45.40% of the company’s stock.
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Inter Parfums Profile
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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