Inter Parfums, Inc. (IPAR) Position Raised by Stifel Financial Corp
Stifel Financial Corp lifted its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 16.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 370,435 shares of the company’s stock after purchasing an additional 52,752 shares during the quarter. Stifel Financial Corp owned about 1.19% of Inter Parfums worth $13,594,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of IPAR. Vanguard Group Inc. raised its stake in shares of Inter Parfums by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,689,917 shares of the company’s stock worth $61,935,000 after buying an additional 41,384 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Inter Parfums by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,391,727 shares of the company’s stock worth $51,007,000 after acquiring an additional 16,317 shares during the period. Northern Trust Corp grew its holdings in Inter Parfums by 0.5% during the second quarter. Northern Trust Corp now owns 748,819 shares of the company’s stock worth $27,446,000 after acquiring an additional 3,655 shares during the period. Ranger Investment Management L.P. grew its holdings in Inter Parfums by 13.8% during the first quarter. Ranger Investment Management L.P. now owns 689,187 shares of the company’s stock worth $25,190,000 after acquiring an additional 83,782 shares during the period. Finally, Royce & Associates LP raised its position in Inter Parfums by 20.4% in the second quarter. Royce & Associates LP now owns 600,255 shares of the company’s stock worth $21,999,000 after acquiring an additional 101,565 shares in the last quarter. Institutional investors and hedge funds own 55.61% of the company’s stock.
Inter Parfums, Inc. (NASDAQ:IPAR) opened at 41.25 on Monday. Inter Parfums, Inc. has a 52-week low of $29.40 and a 52-week high of $42.10. The company has a 50 day moving average price of $39.09 and a 200-day moving average price of $36.93. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 31.98 and a beta of 1.76.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Monday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 7.14% and a return on equity of 8.12%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. Equities research analysts anticipate that Inter Parfums, Inc. will post $1.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.65%. Inter Parfums’s dividend payout ratio (DPR) is presently 52.31%.
IPAR has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. BidaskClub upgraded shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Citigroup Inc. reaffirmed 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, DA Davidson reaffirmed 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. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $42.60.
In related news, CFO Russell Greenberg sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $39.60, for a total value of $99,000.00. Following the completion of the sale, the chief financial officer now owns 5,500 shares in the company, valued at $217,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 45.40% of the stock is owned by insiders.
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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