Franklin Resources Inc. Sells 7,813 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Franklin Resources Inc. trimmed its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 34.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,798 shares of the company’s stock after selling 7,813 shares during the period. Franklin Resources Inc.’s holdings in Inter Parfums were worth $1,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Alliancebernstein L.P. raised its holdings in Inter Parfums by 75.6% in the 4th quarter. Alliancebernstein L.P. now owns 49,265 shares of the company’s stock valued at $6,479,000 after acquiring an additional 21,203 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Inter Parfums by 80.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,815 shares of the company’s stock valued at $633,000 after purchasing an additional 2,140 shares in the last quarter. Level Four Advisory Services LLC lifted its position in Inter Parfums by 1.9% during the fourth quarter. Level Four Advisory Services LLC now owns 8,101 shares of the company’s stock worth $1,065,000 after purchasing an additional 154 shares during the period. Norges Bank acquired a new stake in Inter Parfums during the fourth quarter worth about $32,095,000. Finally, JPMorgan Chase & Co. increased its holdings in Inter Parfums by 32.4% in the 4th quarter. JPMorgan Chase & Co. now owns 133,816 shares of the company’s stock valued at $17,598,000 after buying an additional 32,741 shares during the period. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Stock Up 1.6 %

Shares of NASDAQ:IPAR opened at $106.10 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. Inter Parfums, Inc. has a 52-week low of $97.65 and a 52-week high of $148.15. The company has a market capitalization of $3.41 billion, a PE ratio of 22.77 and a beta of 1.15. The company has a fifty day moving average of $125.20 and a 200-day moving average of $128.80.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The firm had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. On average, equities analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.80 per share. The ex-dividend date was Friday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 3.02%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio (DPR) is presently 62.87%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. DA Davidson reaffirmed a “buy” rating and issued a $170.00 target price on shares of Inter Parfums in a report on Tuesday, March 25th. Finally, BWS Financial reissued a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

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.