Victory Capital Management Inc. Buys 356,949 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Victory Capital Management Inc. increased its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 5,393.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 363,567 shares of the company’s stock after buying an additional 356,949 shares during the quarter. Victory Capital Management Inc. owned 1.14% of Inter Parfums worth $47,075,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. CWM LLC raised its position in Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after purchasing an additional 88 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Inter Parfums by 2.8% during the second quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company’s stock worth $390,000 after acquiring an additional 92 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Inter Parfums by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock worth $1,044,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System raised its position in shares of Inter Parfums by 2.0% during the second quarter. Arizona State Retirement System now owns 5,378 shares of the company’s stock worth $624,000 after acquiring an additional 105 shares during the last quarter. Finally, Inspire Investing LLC raised its position in shares of Inter Parfums by 3.9% during the third quarter. Inspire Investing LLC now owns 3,208 shares of the company’s stock worth $415,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 55.57% of the company’s stock.

Insider Transactions at Inter Parfums

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 43.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IPAR shares. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler decreased their price objective on Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Monday, November 11th. Finally, DA Davidson reissued a “buy” rating and issued a $163.00 target price on shares of Inter Parfums in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Inter Parfums has a consensus rating of “Moderate Buy” and an average price target of $157.50.

Inter Parfums Stock Down 4.6 %

NASDAQ:IPAR opened at $124.65 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 current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 26.75 and a beta of 1.16. The stock has a 50-day moving average price of $122.71 and a two-hundred day moving average price of $122.57.

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

Inter Parfums Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.41%. Inter Parfums’s dividend payout ratio is currently 64.38%.

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.