Hancock Whitney Corp Buys Shares of 3,174 Inter Parfums, Inc. (NASDAQ:IPAR)

Hancock Whitney Corp bought a new stake in Inter Parfums, Inc. (NASDAQ:IPARGet Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,174 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Inter Parfums by 0.9% in the first quarter. BlackRock Inc. now owns 2,686,964 shares of the company’s stock valued at $236,587,000 after acquiring an additional 24,932 shares during the last quarter. Vanguard Group Inc. lifted its stake in Inter Parfums by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,012,813 shares of the company’s stock valued at $177,228,000 after acquiring an additional 29,386 shares during the last quarter. Royce & Associates LP lifted its stake in Inter Parfums by 22.3% in the second quarter. Royce & Associates LP now owns 894,782 shares of the company’s stock valued at $65,373,000 after acquiring an additional 163,448 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Inter Parfums by 1.4% in the third quarter. Copeland Capital Management LLC now owns 644,246 shares of the company’s stock valued at $48,615,000 after acquiring an additional 8,676 shares during the last quarter. Finally, State Street Corp lifted its stake in Inter Parfums by 1.9% in the second quarter. State Street Corp now owns 588,196 shares of the company’s stock valued at $42,974,000 after acquiring an additional 10,890 shares during the last quarter. 55.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IPAR has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Inter Parfums from $108.00 to $115.00 in a research note on Tuesday, January 3rd. StockNews.com cut shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Saturday, December 31st. Finally, DA Davidson boosted their price objective on shares of Inter Parfums from $116.00 to $126.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Inter Parfums currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.33.

Inter Parfums Price Performance

NASDAQ:IPAR opened at $110.72 on Monday. The stock has a market cap of $3.53 billion, a P/E ratio of 34.39, a PEG ratio of 1.97 and a beta of 0.98. Inter Parfums, Inc. has a one year low of $64.52 and a one year high of $110.92. The company has a fifty day moving average price of $92.47 and a 200 day moving average price of $83.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.85 and a quick ratio of 1.71.

Inter Parfums (NASDAQ:IPARGet Rating) last released its earnings results on Wednesday, November 9th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.99 by $0.31. The firm had revenue of $280.46 million during the quarter, compared to analysts’ expectations of $278.70 million. Inter Parfums had a net margin of 10.45% and a return on equity of 13.98%. Analysts anticipate that Inter Parfums, Inc. will post 3.6 earnings per share for the current year.

Inter Parfums Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.81%. The ex-dividend date was Wednesday, December 14th. Inter Parfums’s payout ratio is currently 62.11%.

Insider Activity at Inter Parfums

In related news, CFO Russell Greenberg sold 917 shares of the company’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $100.00, for a total transaction of $91,700.00. Following the completion of the transaction, the chief financial officer now directly owns 7,500 shares in the company, valued at approximately $750,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Inter Parfums news, CFO Russell Greenberg sold 917 shares of the business’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $100.00, for a total value of $91,700.00. Following the sale, the chief financial officer now owns 7,500 shares of the company’s stock, valued at approximately $750,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Pelayo Frederic Garcia sold 555 shares of the business’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $96.70, for a total transaction of $53,668.50. The disclosure for this sale can be found here. Insiders sold a total of 40,318 shares of company stock worth $3,953,358 in the last ninety days. 44.20% of the stock is currently owned by insiders.

About Inter Parfums

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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. 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, Kate Spade, Lily Aldridge, Lanvin, Moncler, Montblanc, Rochas, S.T.

See Also

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Institutional Ownership by Quarter for Inter Parfums (NASDAQ:IPAR)

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