Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,093 shares of the company’s stock after selling 699 shares during the period. Truist Financial Corp’s holdings in Inter Parfums were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in IPAR. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Inter Parfums in the fourth quarter worth about $27,000. Signaturefd LLC raised its holdings in Inter Parfums by 87.4% in the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Inter Parfums during the third quarter worth approximately $55,000. Covestor Ltd grew its holdings in Inter Parfums by 30.5% in the third quarter. Covestor Ltd now owns 1,236 shares of the company’s stock valued at $166,000 after purchasing an additional 289 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Inter Parfums in the fourth quarter valued at approximately $206,000. 55.57% of the stock is owned by hedge funds and other institutional investors.

Inter Parfums Stock Up 1.8 %

NASDAQ IPAR opened at $120.59 on Friday. The business has a fifty day moving average price of $130.85 and a 200 day moving average price of $134.85. 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 $3.86 billion, a P/E ratio of 25.39 and a beta of 1.19. Inter Parfums, Inc. has a one year low of $114.71 and a one year high of $156.75.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, May 7th. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.29). The business had revenue of $323.96 million during the quarter, compared to analyst estimates of $324.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. Inter Parfums’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $1.68 earnings per share. Research analysts anticipate that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Inter Parfums Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, June 14th. Inter Parfums’s dividend payout ratio is currently 63.16%.

Analyst Upgrades and Downgrades

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