Louisiana State Employees Retirement System Purchases Shares of 9,000 Inter Parfums, Inc. (NASDAQ:IPAR)

Louisiana State Employees Retirement System acquired a new position in Inter Parfums, Inc. (NASDAQ:IPAR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,000 shares of the company’s stock, valued at approximately $1,296,000.

Several other hedge funds have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inter Parfums in the 4th quarter worth $27,000. Point72 Middle East FZE bought a new position in shares of Inter Parfums in the 4th quarter valued at about $27,000. Harvest Fund Management Co. Ltd purchased a new position in Inter Parfums in the third quarter worth about $55,000. Ronald Blue Trust Inc. increased its stake in Inter Parfums by 112.8% during the third quarter. Ronald Blue Trust Inc. now owns 432 shares of the company’s stock worth $58,000 after acquiring an additional 229 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in Inter Parfums by 71.5% during the second quarter. Benjamin Edwards Inc. now owns 542 shares of the company’s stock valued at $73,000 after purchasing an additional 226 shares during the period. 55.57% of the stock is owned by hedge funds and other institutional investors.

Inter Parfums Trading Up 3.2 %

Shares of NASDAQ IPAR opened at $127.88 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 26.92 and a beta of 1.13. The business’s 50 day moving average price is $139.05 and its 200-day moving average price is $135.58. Inter Parfums, Inc. has a fifty-two week low of $120.71 and a fifty-two week high of $161.17.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $328.74 million for the quarter, compared to the consensus estimate of $329.00 million. During the same period last year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Inter Parfums, Inc. will post 5.16 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.75 per share. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.35%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $150,420. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 43.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IPAR. Piper Sandler boosted their target price on Inter Parfums from $175.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th.

Inter Parfums 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.