Los Angeles Capital Management LLC Cuts Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Los Angeles Capital Management LLC lessened its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,286 shares of the company’s stock after selling 3,200 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of Inter Parfums worth $3,065,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. increased its stake in Inter Parfums by 94.4% during the 3rd quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock valued at $37,136,000 after purchasing an additional 134,243 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Inter Parfums by 10.8% in the 3rd quarter. William Blair Investment Management LLC now owns 243,675 shares of the company’s stock valued at $32,735,000 after acquiring an additional 23,838 shares during the period. Lord Abbett & CO. LLC raised its stake in Inter Parfums by 1.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 202,451 shares of the company’s stock worth $27,197,000 after acquiring an additional 3,774 shares during the last quarter. WCM Investment Management LLC raised its stake in Inter Parfums by 9.3% in the 4th quarter. WCM Investment Management LLC now owns 200,336 shares of the company’s stock worth $29,592,000 after acquiring an additional 17,079 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Inter Parfums by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 178,867 shares of the company’s stock worth $24,029,000 after acquiring an additional 10,714 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Stock Performance

Shares of IPAR stock opened at $119.79 on Tuesday. Inter Parfums, Inc. has a 52-week low of $114.88 and a 52-week high of $156.75. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.84 billion, a PE ratio of 25.22 and a beta of 1.19. The business has a 50-day simple moving average of $132.52 and a 200-day simple moving average of $135.07.

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

Inter Parfums Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued 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 2.50%. Inter Parfums’s dividend payout ratio is 63.16%.

Insider Activity at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the company’s stock in a transaction dated 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 $150,420. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 43.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Inter Parfums Company 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.