Rice Hall James & Associates LLC Cuts Position in Inter Parfums, Inc. (IPAR)
Rice Hall James & Associates LLC cut its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 56,272 shares of the company’s stock after selling 3,244 shares during the period. Rice Hall James & Associates LLC’s holdings in Inter Parfums were worth $2,062,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in IPAR. Vanguard Group Inc. boosted its stake in shares of Inter Parfums by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,648,533 shares of the company’s stock worth $60,254,000 after buying an additional 89,133 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Inter Parfums by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,375,410 shares of the company’s stock worth $50,271,000 after buying an additional 29,457 shares during the period. Ranger Investment Management L.P. boosted its stake in shares of Inter Parfums by 13.8% in the first quarter. Ranger Investment Management L.P. now owns 689,187 shares of the company’s stock worth $25,190,000 after buying an additional 83,782 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Inter Parfums by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 547,489 shares of the company’s stock worth $20,011,000 after buying an additional 4,297 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in shares of Inter Parfums by 24.1% in the first quarter. Eagle Asset Management Inc. now owns 445,088 shares of the company’s stock worth $16,267,000 after buying an additional 86,528 shares during the period. 54.10% of the stock is owned by hedge funds and other institutional investors.
Inter Parfums, Inc. (NASDAQ:IPAR) opened at 39.20 on Tuesday. The stock has a market cap of $1.22 billion, a PE ratio of 30.39 and a beta of 1.77. Inter Parfums, Inc. has a 12 month low of $29.40 and a 12 month high of $41.70. The company’s 50 day moving average price is $37.46 and its 200 day moving average price is $36.11.
Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $129.10 million during the quarter, compared to analyst estimates of $122.57 million. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Equities analysts forecast that Inter Parfums, Inc. will post $1.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.73%. Inter Parfums’s payout ratio is currently 52.31%.
ILLEGAL ACTIVITY NOTICE: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/08/15/rice-hall-james-associates-llc-cuts-position-in-inter-parfums-inc-ipar.html.
IPAR has been the subject of a number of research reports. BidaskClub cut Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. DA Davidson reissued a “buy” rating and issued a $45.00 price objective (up previously from $44.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Finally, Jefferies Group LLC initiated coverage on Inter Parfums in a research note on Friday, June 2nd. They issued a “hold” rating and a $35.00 price objective for the company. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Inter Parfums currently has an average rating of “Buy” and a consensus price target of $41.67.
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.
Want to see what other hedge funds are holding IPAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inter Parfums, Inc. (NASDAQ:IPAR).
Receive News & Stock Ratings for Inter Parfums Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inter Parfums Inc. and related stocks with our FREE daily email newsletter.