Bank of America Corp DE Purchases 19,284 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Bank of America Corp DE increased its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 195,771 shares of the company’s stock after buying an additional 19,284 shares during the quarter. Bank of America Corp DE owned 0.61% of Inter Parfums worth $25,746,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IPAR. Raymond James Financial Inc. bought a new position in Inter Parfums in the fourth quarter valued at approximately $39,070,000. Norges Bank bought a new position in Inter Parfums in the fourth quarter valued at approximately $32,095,000. Victory Capital Management Inc. grew its stake in Inter Parfums by 55.0% in the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock valued at $74,125,000 after purchasing an additional 200,079 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Inter Parfums by 10.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company’s stock valued at $147,913,000 after purchasing an additional 108,321 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Inter Parfums by 23.3% in the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock valued at $59,705,000 after purchasing an additional 85,871 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IPAR has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $138.00 price target (down from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. Canaccord Genuity Group raised their price target on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. DA Davidson reiterated a “buy” rating and set a $170.00 target price on shares of Inter Parfums in a research note on Tuesday, March 25th. Finally, BWS Financial reiterated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.60.

Inter Parfums Stock Performance

Shares of NASDAQ IPAR opened at $126.73 on Friday. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 12 month low of $97.65 and a 12 month high of $148.15. The stock has a 50 day moving average of $113.72 and a 200-day moving average of $126.97. The company has a market capitalization of $4.07 billion, a P/E ratio of 27.20 and a beta of 1.33.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Monday, May 5th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19. The business had revenue of $339.00 million during the quarter, compared to analysts’ expectations of $329.21 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.27 EPS. As a group, equities research analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.80 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.53%. Inter Parfums’s payout ratio is currently 62.26%.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $122.15, for a total value of $183,225.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 43.90% of the company’s stock.

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.