Dimensional Fund Advisors LP reduced its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,364,827 shares of the company’s stock after selling 17,149 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Inter Parfums were worth $89,492,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantamental Technologies LLC bought a new stake in shares of Inter Parfums in the fourth quarter worth $105,000. LS Investment Advisors LLC increased its stake in shares of Inter Parfums by 60.7% in the fourth quarter. LS Investment Advisors LLC now owns 2,133 shares of the company’s stock worth $140,000 after buying an additional 806 shares during the last quarter. First Manhattan Co. increased its stake in shares of Inter Parfums by 200.0% in the fourth quarter. First Manhattan Co. now owns 2,400 shares of the company’s stock worth $157,000 after buying an additional 1,600 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of Inter Parfums in the fourth quarter worth $177,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Inter Parfums in the fourth quarter worth $215,000. 55.81% of the stock is currently owned by institutional investors and hedge funds.
IPAR stock opened at $67.18 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.10 and a quick ratio of 2.20. Inter Parfums, Inc. has a 1-year low of $50.61 and a 1-year high of $80.99. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 39.29, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.10 annualized dividend and a yield of 1.64%. Inter Parfums’s payout ratio is 64.33%.
In other Inter Parfums news, CFO Russell Greenberg sold 2,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $79.05, for a total transaction of $197,625.00. Following the completion of the sale, the chief financial officer now owns 2,500 shares in the company, valued at $197,625. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 45.00% of the stock is owned by insiders.
A number of brokerages recently issued reports on IPAR. BidaskClub upgraded shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Zacks Investment Research upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Friday, March 8th. Citigroup lifted their price target on shares of Inter Parfums from $64.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Raymond James lifted their price target on shares of Inter Parfums from $68.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, DA Davidson lowered shares of Inter Parfums from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $72.00 to $84.00 in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $75.00.
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About Inter Parfums
Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
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