Mesirow Institutional Investment Management Inc. Trims Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Mesirow Institutional Investment Management Inc. lowered its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 46.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,170 shares of the company’s stock after selling 51,705 shares during the period. Mesirow Institutional Investment Management Inc. owned approximately 0.18% of Inter Parfums worth $7,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Inter Parfums by 55.9% during the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after acquiring an additional 81 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Inter Parfums by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,907 shares of the company’s stock worth $251,000 after purchasing an additional 121 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Inter Parfums by 7.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company’s stock worth $239,000 after purchasing an additional 124 shares during the last quarter. Level Four Advisory Services LLC boosted its stake in shares of Inter Parfums by 1.9% during the fourth quarter. Level Four Advisory Services LLC now owns 8,101 shares of the company’s stock valued at $1,065,000 after purchasing an additional 154 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Price Performance

NASDAQ IPAR opened at $104.02 on Friday. The company has a market cap of $3.34 billion, a PE ratio of 22.32 and a beta of 1.15. Inter Parfums, Inc. has a 52-week low of $97.65 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 firm’s 50 day moving average price is $121.87 and its 200-day moving average price is $127.95.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. Sell-side analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.80 per share. The ex-dividend date was Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.08%. Inter Parfums’s dividend payout ratio is presently 62.87%.

Analysts Set New Price Targets

IPAR has been the subject of several research reports. Canaccord Genuity Group boosted their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. DA Davidson reissued a “buy” rating and issued a $170.00 price objective on shares of Inter Parfums in a research note on Tuesday, March 25th. Finally, BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 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.