BNP Paribas Arbitrage SA lowered its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 24.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,420 shares of the company’s stock after selling 2,362 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Inter Parfums were worth $350,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System raised its stake in Inter Parfums by 22.1% during the first quarter. New York State Teachers Retirement System now owns 9,375 shares of the company’s stock worth $442,000 after purchasing an additional 1,700 shares during the period. California Public Employees Retirement System raised its stake in Inter Parfums by 5.3% during the first quarter. California Public Employees Retirement System now owns 34,214 shares of the company’s stock worth $1,613,000 after purchasing an additional 1,714 shares during the period. Bahl & Gaynor Inc. raised its stake in Inter Parfums by 3.3% during the first quarter. Bahl & Gaynor Inc. now owns 59,950 shares of the company’s stock worth $2,827,000 after purchasing an additional 1,911 shares during the period. SG Americas Securities LLC purchased a new position in Inter Parfums during the first quarter worth approximately $119,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Inter Parfums by 4.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 73,096 shares of the company’s stock worth $3,177,000 after purchasing an additional 2,964 shares during the period. Hedge funds and other institutional investors own 55.27% of the company’s stock.
In other news, insider Philippe Benacin sold 27,923 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $47.78, for a total value of $1,334,160.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Pelayo Frederic Garcia sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $51.24, for a total transaction of $256,200.00. Following the completion of the transaction, the insider now directly owns 600 shares in the company, valued at approximately $30,744. The disclosure for this sale can be found here. In the last three months, insiders sold 79,727 shares of company stock worth $3,865,140. Insiders own 45.40% of the company’s stock.
Inter Parfums opened at $53.50 on Friday, MarketBeat Ratings reports. The company has a current ratio of 3.36, a quick ratio of 2.53 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 40.23, a P/E/G ratio of 2.74 and a beta of 1.58. Inter Parfums, Inc. has a fifty-two week low of $35.55 and a fifty-two week high of $55.45.
Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, May 8th. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Inter Parfums had a net margin of 7.12% and a return on equity of 7.80%. The business had revenue of $171.77 million for the quarter, compared to the consensus estimate of $159.85 million. During the same quarter last year, the firm posted $0.43 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. equities analysts predict that Inter Parfums, Inc. will post 1.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, June 28th. Inter Parfums’s dividend payout ratio is presently 63.16%.
IPAR has been the topic of a number of recent analyst reports. DA Davidson increased their price target on shares of Inter Parfums from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, April 26th. BidaskClub raised shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 19th. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, April 4th. Bank of America raised shares of Inter Parfums from a “neutral” rating to a “buy” rating in a research note on Thursday, May 10th. Finally, ValuEngine raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Inter Parfums presently has an average rating of “Buy” and a consensus price target of $52.20.
Inter Parfums Profile
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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