Comerica Bank Trims Stock Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Comerica Bank lowered its position in Inter Parfums, Inc. (NASDAQ:IPARGet Rating) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,618 shares of the company’s stock after selling 1,852 shares during the quarter. Comerica Bank’s holdings in Inter Parfums were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

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

Inter Parfums Trading Up 0.7 %

Shares of IPAR stock opened at $113.79 on Tuesday. The business’s fifty day moving average price is $98.88 and its 200 day moving average price is $86.27. Inter Parfums, Inc. has a 1-year low of $64.52 and a 1-year high of $116.09. The firm has a market capitalization of $3.63 billion, a PE ratio of 35.34, a P/E/G ratio of 2.01 and a beta of 0.98. 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 announced its quarterly earnings data on Wednesday, November 9th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.31. The firm had revenue of $280.46 million for the quarter, compared to analyst estimates of $278.70 million. Inter Parfums had a return on equity of 13.98% and a net margin of 10.45%. As a group, sell-side analysts forecast that Inter Parfums, Inc. will post 3.6 EPS for the current fiscal year.

Inter Parfums Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.76%. The ex-dividend date was Wednesday, December 14th. Inter Parfums’s dividend payout ratio (DPR) is 62.11%.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 9,463 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $110.72, for a total value of $1,047,743.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Inter Parfums news, COO Pelayo Frederic Garcia sold 9,463 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $110.72, for a total value of $1,047,743.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jean Madar sold 7,600 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $97.54, for a total value of $741,304.00. Following the completion of the sale, the chief executive officer now owns 24,400 shares in the company, valued at $2,379,976. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,063 shares of company stock valued at $6,471,551. Insiders own 44.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on IPAR. Piper Sandler upped their price target on Inter Parfums from $108.00 to $115.00 in a research note on Tuesday, January 3rd. DA Davidson upped their price target on Inter Parfums from $116.00 to $126.00 in a research note on Friday, January 6th. Finally, StockNews.com raised Inter Parfums from a “hold” rating to a “buy” rating in a report on Thursday, January 19th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $113.33.

Inter Parfums Company Profile

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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.

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

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