Pictet Asset Management Holding SA Sells 116,930 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Pictet Asset Management Holding SA reduced its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 25.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 340,628 shares of the company’s stock after selling 116,930 shares during the period. Pictet Asset Management Holding SA owned 1.06% of Inter Parfums worth $44,796,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IPAR. Raymond James Financial Inc. bought a new position in Inter Parfums during the fourth quarter worth about $39,070,000. Norges Bank bought a new position in Inter Parfums during the 4th quarter worth approximately $32,095,000. Victory Capital Management Inc. grew its holdings in Inter Parfums by 55.0% during the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock valued at $74,125,000 after purchasing an additional 200,079 shares during the period. Wellington Management Group LLP increased its stake in Inter Parfums by 44.2% in the third quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock valued at $41,934,000 after purchasing an additional 99,316 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Inter Parfums by 23.3% in the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock worth $59,705,000 after purchasing an additional 85,871 shares during the period. 55.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IPAR shares. Canaccord Genuity Group upped 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. Piper Sandler increased their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. DA Davidson reiterated a “buy” rating and set a $170.00 price objective on shares of Inter Parfums in a report on Tuesday, March 25th. Finally, BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $162.80.

Inter Parfums Stock Performance

Shares of Inter Parfums stock opened at $117.26 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 25.16 and a beta of 1.18. Inter Parfums, Inc. has a one year low of $108.39 and a one year high of $148.15. The stock’s 50-day moving average is $133.44 and its 200-day moving average is $129.88.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share 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 firm had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Equities 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.80 dividend. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.73%. The ex-dividend date was Friday, March 14th. Inter Parfums’s payout ratio is presently 62.87%.

Inter Parfums 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.