Loomis Sayles & Co. L P Cuts Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Loomis Sayles & Co. L P lessened its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 309,111 shares of the company’s stock after selling 9,031 shares during the quarter. Loomis Sayles & Co. L P owned 0.97% of Inter Parfums worth $40,652,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Inter Parfums by 55.9% in the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after acquiring an additional 81 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Inter Parfums by 7.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company’s stock worth $239,000 after purchasing an additional 124 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Inter Parfums by 25.7% during the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after purchasing an additional 167 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Inter Parfums by 15.1% during the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock worth $174,000 after purchasing an additional 174 shares in the last quarter. Finally, Truist Financial Corp raised its stake in Inter Parfums by 1.1% in the fourth quarter. Truist Financial Corp now owns 17,583 shares of the company’s stock valued at $2,312,000 after buying an additional 184 shares in the last quarter. 55.57% of the stock is owned by institutional investors and hedge funds.

Inter Parfums Price Performance

IPAR stock opened at $121.49 on Friday. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.90 billion, a P/E ratio of 26.07 and a beta of 1.18. The business has a 50 day simple moving average of $133.87 and a 200-day simple moving average of $129.78. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $148.15.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $361.50 million for the quarter, compared to analysts’ expectations of $361.56 million. As a group, equities analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.80 dividend. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is 62.87%.

Analysts Set New Price Targets

Several research firms have recently issued reports on IPAR. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, March 17th. DA Davidson reiterated a “buy” rating and issued a $170.00 price target on shares of Inter Parfums in a research note on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Piper Sandler increased their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.80.

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.