Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 27.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,926 shares of the company’s stock after selling 57,641 shares during the quarter. Granite Investment Partners LLC’s holdings in Inter Parfums were worth $19,980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Inter Parfums by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company’s stock worth $269,677,000 after acquiring an additional 20,721 shares during the period. State Street Corp increased its position in Inter Parfums by 0.3% during the 3rd quarter. State Street Corp now owns 676,253 shares of the company’s stock worth $87,561,000 after purchasing an additional 2,255 shares during the period. Victory Capital Management Inc. raised its stake in shares of Inter Parfums by 55.0% during the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock worth $74,125,000 after buying an additional 200,079 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Inter Parfums by 23.3% in the 4th quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock valued at $59,705,000 after buying an additional 85,871 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Inter Parfums by 1.2% in the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after buying an additional 5,056 shares in the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Canaccord Genuity Group increased their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. DA Davidson reiterated 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 restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.

Inter Parfums Trading Up 1.6 %

Shares of IPAR stock opened at $106.10 on Friday. Inter Parfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $125.20 and a 200-day simple moving average of $128.79. The stock has a market cap of $3.41 billion, a P/E ratio of 22.77 and a beta of 1.15.

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

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio is 62.87%.

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.