Russell Investments Group Ltd. Sells 2,200 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Russell Investments Group Ltd. trimmed its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 71,945 shares of the company’s stock after selling 2,200 shares during the period. Russell Investments Group Ltd.’s holdings in Inter Parfums were worth $10,500,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas grew its holdings in shares of Inter Parfums by 0.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock worth $1,721,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC grew its stake in Inter Parfums by 87.4% during the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Fifth Third Bancorp grew its stake in Inter Parfums by 4.9% during the fourth quarter. Fifth Third Bancorp now owns 2,567 shares of the company’s stock worth $370,000 after buying an additional 120 shares during the last quarter. Curbstone Financial Management Corp increased its holdings in shares of Inter Parfums by 5.1% during the fourth quarter. Curbstone Financial Management Corp now owns 3,730 shares of the company’s stock worth $537,000 after buying an additional 180 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Inter Parfums in the fourth quarter valued at approximately $27,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Inter Parfums

In related news, Director Gilbert Harrison sold 250 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 43.90% of the stock is owned by corporate insiders.

Inter Parfums Stock Performance

IPAR stock opened at $119.11 on Monday. The company has a 50 day moving average price of $133.17 and a 200 day moving average price of $135.12. Inter Parfums, Inc. has a fifty-two week low of $114.88 and a fifty-two week high of $156.75. 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 stock has a market capitalization of $3.81 billion, a PE ratio of 25.08 and a beta of 1.19.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $329.00 million. During the same quarter in the previous year, the firm earned $0.71 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Analysts forecast that Inter Parfums, Inc. will post 5.15 EPS for the current year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Thursday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Wall Street Analyst Weigh In

A number of research firms recently commented on IPAR. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research report on Wednesday, April 17th. Piper Sandler decreased their target price on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $192.00 price target on shares of Inter Parfums in a report on Friday, April 26th.

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.