Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 30.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,925 shares of the company’s stock after selling 5,622 shares during the period. Jane Street Group LLC’s holdings in Inter Parfums were worth $1,700,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IPAR. Raymond James Financial Inc. acquired a new stake in Inter Parfums in the 4th quarter valued at approximately $39,070,000. Norges Bank acquired a new stake in Inter Parfums in the 4th quarter valued at approximately $32,095,000. Victory Capital Management Inc. increased its holdings in Inter Parfums by 55.0% in the 4th 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 during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Inter Parfums by 10.7% in the 4th 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 during the last quarter. Finally, American Century Companies Inc. increased its holdings in Inter Parfums by 23.3% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Insider Buying and Selling

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were 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 can be accessed through the SEC website. Insiders own 43.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Inter Parfums Stock Performance

NASDAQ:IPAR opened at $126.73 on Friday. The company has a fifty day simple moving average of $113.72 and a two-hundred day simple moving average of $126.97. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 27.20 and a beta of 1.33. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 52 week low of $97.65 and a 52 week high of $148.15.

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

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors 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 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is presently 62.26%.

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.