William Blair Investment Management LLC Sells 180 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

William Blair Investment Management LLC trimmed its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,724 shares of the company’s stock after selling 180 shares during the quarter. William Blair Investment Management LLC owned 0.73% of Inter Parfums worth $30,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IPAR. GAMMA Investing LLC increased its stake in Inter Parfums by 55.9% in the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after acquiring an additional 81 shares during the last quarter. SRH Advisors LLC increased its stake in Inter Parfums by 791.7% in the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock valued at $70,000 after acquiring an additional 475 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new position in Inter Parfums in the third quarter valued at approximately $104,000. Blue Trust Inc. increased its stake in Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $106,000 after acquiring an additional 167 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in Inter Parfums by 15.1% in the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock valued at $174,000 after acquiring an additional 174 shares during the last quarter. 55.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $121.63 on Wednesday. The firm has a market cap of $3.91 billion, a PE ratio of 26.10 and a beta of 1.18. The firm’s fifty day moving average is $135.50 and its 200-day moving average is $130.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. Inter Parfums, Inc. has a 52 week low of $108.39 and a 52 week high of $148.15.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The business 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%. Sell-side analysts predict that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s 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.