Illinois Municipal Retirement Fund Cuts Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Illinois Municipal Retirement Fund lowered its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,410 shares of the company’s stock after selling 794 shares during the period. Illinois Municipal Retirement Fund’s holdings in Inter Parfums were worth $1,931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cerity Partners LLC purchased a new position in shares of Inter Parfums during the 4th quarter valued at $6,624,000. WCM Investment Management LLC lifted its position in shares of Inter Parfums by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 200,336 shares of the company’s stock valued at $29,592,000 after buying an additional 17,079 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Inter Parfums during the 3rd quarter valued at $2,199,000. Invesco Ltd. lifted its position in shares of Inter Parfums by 94.4% during the 3rd quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock valued at $37,136,000 after buying an additional 134,243 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Inter Parfums by 0.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock valued at $1,721,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BWS Financial reiterated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, April 17th. Piper Sandler decreased their price objective on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research note on Thursday.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $150,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 43.90% of the company’s stock.

Inter Parfums Price Performance

Shares of NASDAQ IPAR opened at $118.01 on Friday. The firm has a market capitalization of $3.78 billion, a P/E ratio of 24.84 and a beta of 1.13. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $137.92 and its two-hundred day simple moving average is $135.52. Inter Parfums, Inc. has a twelve month low of $116.75 and a twelve month high of $158.13.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. Inter Parfums’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, equities analysts anticipate that Inter Parfums, Inc. will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 2.54%. Inter Parfums’s dividend payout ratio is 63.16%.

About Inter Parfums

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.