Picton Mahoney Asset Management Sells 330 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Picton Mahoney Asset Management reduced its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 28,296 shares of the company’s stock after selling 330 shares during the quarter. Picton Mahoney Asset Management’s holdings in Inter Parfums were worth $3,722,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IPAR. GAMMA Investing LLC grew its stake in shares of Inter Parfums by 55.9% in the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after purchasing an additional 81 shares during the period. SRH Advisors LLC boosted its holdings in shares of Inter Parfums by 791.7% in the 4th quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after acquiring an additional 475 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Inter Parfums in the 3rd quarter worth approximately $104,000. Blue Trust Inc. boosted its holdings in shares of Inter Parfums by 25.7% in the 4th quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after acquiring an additional 167 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in shares of Inter Parfums by 15.1% in the 4th quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock worth $174,000 after acquiring an additional 174 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Stock Up 2.0 %

NASDAQ:IPAR opened at $127.22 on Friday. The stock’s fifty day moving average price is $135.80 and its two-hundred day moving average price is $130.06. Inter Parfums, Inc. has a 52-week low of $108.39 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 27.30 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). The firm had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. On average, analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.80 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio is 62.87%.

Analyst Upgrades and Downgrades

IPAR has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Piper Sandler boosted their target price on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday, January 27th. Finally, DA Davidson boosted their target price on Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Inter Parfums has an average rating of “Moderate Buy” and a consensus target price of $162.80.

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.