Royce & Associates LP Sells 56,583 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Royce & Associates LP trimmed its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 538,592 shares of the company’s stock after selling 56,583 shares during the quarter. Inter Parfums comprises about 0.7% of Royce & Associates LP’s investment portfolio, making the stock its 19th biggest position. Royce & Associates LP owned about 1.68% of Inter Parfums worth $70,830,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Inter Parfums by 55.9% in the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after purchasing an additional 81 shares during the last quarter. SRH Advisors LLC increased its stake in Inter Parfums by 791.7% during the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after acquiring an additional 475 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Inter Parfums during the third quarter worth approximately $104,000. Blue Trust Inc. increased its stake in 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 acquiring an additional 167 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in 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 acquiring an additional 174 shares during the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Stock Performance

Shares of IPAR stock opened at $127.22 on Friday. The business’s fifty day simple moving average is $135.80 and its 200-day simple moving average is $130.06. The company has a market cap of $4.07 billion, a PE ratio of 27.30 and a beta of 1.18. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $148.15.

Inter Parfums (NASDAQ:IPAR) last released its earnings results 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). The firm had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Analysts expect that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.80 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Inter Parfums’s dividend payout ratio is presently 62.87%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BWS Financial reissued a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Monday, January 27th. Piper Sandler upped their target price on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group upped 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. Finally, DA Davidson upped their target price on Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.80.

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.