Inter Parfums, Inc. (NASDAQ:IPAR) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 7.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,816 shares of the company’s stock after acquiring an additional 124 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Inter Parfums were worth $239,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of Inter Parfums by 15.2% in the 4th quarter. HighTower Advisors LLC now owns 3,418 shares of the company’s stock worth $450,000 after purchasing an additional 452 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in Inter Parfums by 677.2% in the 4th quarter. Edgestream Partners L.P. now owns 39,598 shares of the company’s stock valued at $5,208,000 after acquiring an additional 34,503 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Inter Parfums in the fourth quarter valued at $39,070,000. Victory Capital Management Inc. increased its stake in Inter Parfums by 55.0% in the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock worth $74,125,000 after purchasing an additional 200,079 shares in the last quarter. Finally, Keybank National Association OH raised its stake in Inter Parfums by 47.8% during the 4th quarter. Keybank National Association OH now owns 2,940 shares of the company’s stock valued at $387,000 after purchasing an additional 951 shares during the period. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Trading Down 3.5 %

Shares of NASDAQ IPAR opened at $117.26 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $148.15. The company’s 50 day simple moving average is $133.44 and its 200 day simple moving average is $129.78. The firm has a market capitalization of $3.77 billion, a P/E ratio of 25.16 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share 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 the consensus estimate of $361.56 million. On average, analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.80 dividend. 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 annualized dividend and a yield of 2.73%. Inter Parfums’s payout ratio is presently 62.87%.

Analysts Set New Price Targets

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