Inter Parfums, Inc. (NASDAQ:IPAR) Shares Acquired by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. raised its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,124,728 shares of the company’s stock after buying an additional 108,321 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Inter Parfums were worth $147,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Inter Parfums by 55.9% in the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after buying an additional 81 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Inter Parfums by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,907 shares of the company’s stock valued at $251,000 after purchasing an additional 121 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Inter Parfums by 7.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company’s stock valued at $239,000 after purchasing an additional 124 shares during the period. Level Four Advisory Services LLC increased its stake in Inter Parfums by 1.9% in the 4th quarter. Level Four Advisory Services LLC now owns 8,101 shares of the company’s stock worth $1,065,000 after purchasing an additional 154 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in 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 purchasing an additional 167 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $107.26 on Friday. The business has a fifty day simple moving average of $119.56 and a 200 day simple moving average of $127.46. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 1 year low of $97.65 and a 1 year high of $148.15. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 23.02 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results 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 net margin of 10.60% and a return on equity of 16.34%. As a group, sell-side analysts predict that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is presently 62.87%.

Wall Street Analysts Forecast Growth

IPAR has been the subject of several recent analyst reports. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday, March 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $138.00 target price (down previously from $169.00) on shares of Inter Parfums in a research report on Thursday. DA Davidson reissued a “buy” rating and set a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. Finally, Canaccord Genuity Group raised 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.60.

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.