Royce & Associates LP Acquires 4,345 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Royce & Associates LP grew its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,175 shares of the company’s stock after acquiring an additional 4,345 shares during the period. Inter Parfums accounts for approximately 0.7% of Royce & Associates LP’s holdings, making the stock its 18th largest position. Royce & Associates LP owned approximately 1.86% of Inter Parfums worth $77,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UniSuper Management Pty Ltd acquired a new stake in Inter Parfums in the first quarter valued at $638,000. Bessemer Group Inc. grew its holdings in Inter Parfums by 6.0% during the first quarter. Bessemer Group Inc. now owns 85,990 shares of the company’s stock worth $12,082,000 after purchasing an additional 4,880 shares during the period. Empowered Funds LLC acquired a new stake in shares of Inter Parfums in the first quarter valued at approximately $1,018,000. Harbor Capital Advisors Inc. increased its holdings in shares of Inter Parfums by 306.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,478 shares of the company’s stock worth $636,000 after acquiring an additional 4,131 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Inter Parfums in the first quarter valued at $601,000. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Stock Performance

Shares of Inter Parfums stock opened at $130.72 on Friday. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $156.75. The company has a market cap of $4.19 billion, a PE ratio of 28.05 and a beta of 1.16. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $122.42 and a 200-day moving average of $122.47.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. The firm had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. As a group, equities research analysts forecast that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, December 16th. Inter Parfums’s payout ratio is 64.38%.

Insider Buying and Selling

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 43.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IPAR shares. DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research note on Tuesday. BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Monday. Piper Sandler dropped their price target on Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Inter Parfums currently has an average rating of “Moderate Buy” and an average price target of $157.50.

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.