Bank of New York Mellon Corp lifted its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,231 shares of the company’s stock after purchasing an additional 31,499 shares during the quarter. Bank of New York Mellon Corp owned 1.53% of Inter Parfums worth $25,585,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in Inter Parfums by 15.9% in the second quarter. Victory Capital Management Inc. now owns 7,609 shares of the company’s stock valued at $407,000 after purchasing an additional 1,045 shares in the last quarter. Granite Investment Partners LLC boosted its stake in Inter Parfums by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 276,657 shares of the company’s stock valued at $14,801,000 after purchasing an additional 1,312 shares during the period. SG Americas Securities LLC boosted its stake in Inter Parfums by 58.6% in the 2nd quarter. SG Americas Securities LLC now owns 4,002 shares of the company’s stock valued at $214,000 after purchasing an additional 1,478 shares during the period. Zacks Investment Management boosted its stake in Inter Parfums by 7.0% in the 2nd quarter. Zacks Investment Management now owns 28,144 shares of the company’s stock valued at $1,506,000 after purchasing an additional 1,842 shares during the period. Finally, Legal & General Group Plc raised its holdings in Inter Parfums by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 34,002 shares of the company’s stock valued at $1,813,000 after acquiring an additional 1,851 shares in the last quarter. 55.96% of the stock is currently owned by institutional investors and hedge funds.
IPAR has been the subject of a number of research analyst reports. BidaskClub raised Inter Parfums from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. Jefferies Financial Group set a $60.00 price target on Inter Parfums and gave the company a “hold” rating in a research report on Wednesday, August 8th. Citigroup upped their price target on Inter Parfums from $50.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, August 9th. BWS Financial upped their target price on Inter Parfums to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, DA Davidson upped their target price on Inter Parfums to $72.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $67.80.
Shares of Inter Parfums stock opened at $59.23 on Thursday. Inter Parfums, Inc. has a 52 week low of $41.30 and a 52 week high of $67.50. The company has a market capitalization of $1.86 billion, a PE ratio of 44.53, a P/E/G ratio of 3.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.37.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $177.21 million for the quarter, compared to analyst estimates of $181.14 million. Inter Parfums had a net margin of 7.74% and a return on equity of 8.60%. Inter Parfums’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. On average, equities research analysts predict that Inter Parfums, Inc. will post 1.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, December 28th. Inter Parfums’s payout ratio is 63.16%.
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About Inter Parfums
Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
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