Inter Parfums, Inc. (NASDAQ:IPAR) Position Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 3.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 49,109 shares of the company’s stock after purchasing an additional 1,780 shares during the period. Wells Fargo & Company MN owned 0.15% of Inter Parfums worth $6,458,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Inter Parfums in the fourth quarter valued at about $39,070,000. Norges Bank acquired a new position in shares of Inter Parfums in the 4th quarter worth approximately $32,095,000. Victory Capital Management Inc. raised its position in shares of Inter Parfums by 55.0% during the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock valued at $74,125,000 after acquiring an additional 200,079 shares in the last quarter. American Century Companies Inc. lifted its stake in Inter Parfums by 23.3% during the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock worth $59,705,000 after purchasing an additional 85,871 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake in Inter Parfums by 18.5% during the fourth quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company’s stock worth $42,326,000 after purchasing an additional 50,247 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group raised 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. BWS Financial restated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, March 17th. Finally, DA Davidson reiterated a “buy” rating and set a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.80.

Inter Parfums Stock Up 1.5 %

Shares of Inter Parfums stock opened at $104.02 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. Inter Parfums, Inc. has a 1-year low of $97.65 and a 1-year high of $148.15. The business’s fifty day moving average price is $122.56 and its two-hundred day moving average price is $128.12. The company has a market capitalization of $3.34 billion, a P/E ratio of 22.32 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The company had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. As a group, research analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.80 dividend. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. This represents a $3.20 annualized dividend and a yield of 3.08%. Inter Parfums’s payout ratio is 62.87%.

About Inter Parfums

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.