Algert Global LLC Has $4.83 Million Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Algert Global LLC cut its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 43.6% in the fourth quarter, HoldingsChannel reports. The firm owned 36,761 shares of the company’s stock after selling 28,395 shares during the period. Algert Global LLC’s holdings in Inter Parfums were worth $4,834,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Coppell Advisory Solutions LLC lifted its position in shares of Inter Parfums by 210.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company’s stock worth $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% in the 4th 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 in the last quarter. State of Tennessee Department of Treasury lifted its holdings in Inter Parfums by 9.7% in the 4th 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 last quarter. MML Investors Services LLC boosted its position in Inter Parfums by 21.6% during 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 period. Finally, MetLife Investment Management LLC grew its holdings in Inter Parfums by 6.0% during the fourth 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 last quarter. 55.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IPAR shares. DA Davidson reaffirmed a “buy” rating and set a $170.00 price objective on shares of Inter Parfums in a report on Tuesday, March 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $138.00 price target (down from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. BWS Financial reissued a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, March 17th. Finally, Canaccord Genuity Group raised their target price on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

Inter Parfums Stock Down 2.3 %

Shares of IPAR opened at $110.37 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. The company has a 50-day simple moving average of $115.74 and a 200-day simple moving average of $126.99. Inter Parfums, Inc. has a 52 week low of $97.65 and a 52 week high of $148.15. The firm has a market capitalization of $3.55 billion, a P/E ratio of 23.68 and a beta of 1.33.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly 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. The firm had revenue of $339.00 million for the quarter, compared to analyst estimates of $329.21 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. On average, equities research analysts expect that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.80 per share. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 2.90%. Inter Parfums’s dividend payout ratio (DPR) is currently 62.87%.

About Inter Parfums

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.