Voya Investment Management LLC Reduces Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Voya Investment Management LLC reduced its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,424 shares of the company’s stock after selling 422 shares during the period. Voya Investment Management LLC’s holdings in Inter Parfums were worth $713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Coppell Advisory Solutions LLC raised its holdings in Inter Parfums by 210.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company’s stock valued at $67,000 after buying an additional 347 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Inter Parfums by 10.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company’s stock valued at $147,913,000 after acquiring an additional 108,321 shares during the last quarter. State of Tennessee Department of Treasury boosted its holdings in shares of Inter Parfums by 9.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 8,574 shares of the company’s stock worth $1,128,000 after purchasing an additional 761 shares during the period. MML Investors Services LLC grew its stake in shares of Inter Parfums by 21.6% in the fourth quarter. MML Investors Services LLC now owns 11,410 shares of the company’s stock worth $1,501,000 after purchasing an additional 2,027 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Inter Parfums by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 11,067 shares of the company’s stock valued at $1,455,000 after purchasing an additional 623 shares during the period. Institutional investors own 55.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their target price on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $138.00 target price (down from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. DA Davidson reiterated a “buy” rating and set a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. Finally, BWS Financial restated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Inter Parfums has an average rating of “Moderate Buy” and a consensus price target of $157.60.

Inter Parfums Trading Up 0.1 %

Shares of NASDAQ IPAR opened at $119.80 on Friday. Inter Parfums, Inc. has a 1 year low of $97.65 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The firm has a 50-day moving average of $114.64 and a 200 day moving average of $126.89. The stock has a market cap of $3.85 billion, a P/E ratio of 25.71 and a beta of 1.33.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Monday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm had revenue of $339.00 million during the quarter, compared to analyst estimates of $329.21 million. During the same period last year, the business earned $1.27 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts expect that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, June 13th. Inter Parfums’s payout ratio is 62.87%.

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.