Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 24.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,857 shares of the company’s stock after purchasing an additional 952 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Inter Parfums were worth $699,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Inter Parfums in the 4th quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Inter Parfums in the 3rd quarter valued at approximately $55,000. Covestor Ltd raised its stake in shares of Inter Parfums by 30.5% in the 3rd quarter. Covestor Ltd now owns 1,236 shares of the company’s stock valued at $166,000 after acquiring an additional 289 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Inter Parfums in the 4th quarter valued at approximately $206,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Inter Parfums by 33.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,590 shares of the company’s stock valued at $229,000 after acquiring an additional 400 shares during the period. 55.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the transaction, 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 available at this link. Company insiders own 43.90% of the company’s stock.

Inter Parfums Trading Down 1.2 %

Shares of IPAR stock opened at $116.38 on Wednesday. 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 stock has a market capitalization of $3.73 billion, a P/E ratio of 24.50 and a beta of 1.13. The company has a 50 day moving average price of $135.20 and a 200 day moving average price of $135.30. Inter Parfums, Inc. has a fifty-two week low of $115.58 and a fifty-two week high of $156.75.

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

Inter Parfums Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s payout ratio is 63.16%.

Analyst Upgrades and Downgrades

IPAR has been the topic of a number of research analyst reports. BWS Financial reissued a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Wednesday, April 17th. DA Davidson restated a “buy” rating and issued a $192.00 price objective on shares of Inter Parfums in a report on Friday, April 26th. Finally, Piper Sandler dropped their price objective on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a report on Thursday, April 25th.

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.