Russell Investments Group Ltd. cut its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,663 shares of the company’s stock after selling 2,395 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Inter Parfums worth $757,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of IPAR. SG Americas Securities LLC purchased a new position in Inter Parfums during the first quarter worth about $107,000. US Bancorp DE raised its stake in Inter Parfums by 45.4% during the first quarter. US Bancorp DE now owns 3,187 shares of the company’s stock worth $116,000 after purchasing an additional 995 shares during the period. State of Alaska Department of Revenue raised its stake in Inter Parfums by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock worth $123,000 after purchasing an additional 1,490 shares during the period. Victory Capital Management Inc. raised its stake in Inter Parfums by 39.4% during the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after purchasing an additional 985 shares during the period. Finally, Huntington National Bank raised its stake in Inter Parfums by 17.6% during the second quarter. Huntington National Bank now owns 3,569 shares of the company’s stock worth $131,000 after purchasing an additional 535 shares during the period. 55.61% of the stock is currently owned by institutional investors.
Inter Parfums, Inc. (NASDAQ:IPAR) traded up 1.01% during midday trading on Friday, hitting $40.20. 182,240 shares of the stock were exchanged. The firm has a 50 day moving average of $38.98 and a 200-day moving average of $36.84. Inter Parfums, Inc. has a 12-month low of $29.40 and a 12-month high of $41.70. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 31.16 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. The business had revenue of $129.10 million for the quarter, compared to analysts’ expectations of $122.57 million. During the same period last year, the company earned $0.19 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Inter Parfums, Inc. will post $1.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.17 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.69%. Inter Parfums’s dividend payout ratio is presently 52.31%.
In related news, CFO Russell Greenberg sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $39.60, for a total value of $99,000.00. Following the sale, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at $217,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 45.40% of the stock is currently owned by company insiders.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub raised shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Finally, DA Davidson reaffirmed a “buy” rating and set a $45.00 target price (up from $44.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $42.20.
Inter Parfums Company Profile
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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