Inter Parfums, Inc. (NASDAQ:IPAR) Stake Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,412 shares of the company’s stock after purchasing an additional 2,461 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Inter Parfums worth $2,940,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Inter Parfums in the fourth quarter valued at $27,000. Signaturefd LLC increased its stake in shares of Inter Parfums by 87.4% in the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Inter Parfums in the third quarter worth $55,000. Covestor Ltd increased its stake in shares of Inter Parfums by 30.5% in the third quarter. Covestor Ltd now owns 1,236 shares of the company’s stock worth $166,000 after acquiring an additional 289 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Inter Parfums in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and issued a $192.00 price target on shares of Inter Parfums in a research note on Friday. Piper Sandler dropped their price target on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, BWS Financial reaffirmed a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Wednesday, April 17th.

Inter Parfums Trading Up 1.3 %

Inter Parfums stock opened at $119.56 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 25.17 and a beta of 1.13. Inter Parfums, Inc. has a one year low of $116.75 and a one year high of $158.13. The company’s fifty day moving average price is $136.61 and its two-hundred day moving average price is $135.37.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, analysts forecast that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a yield of 2.51%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Insider Buying and Selling at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $150,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 43.90% of the company’s stock.

About Inter Parfums

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.