Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,638 shares of the company’s stock after selling 4,124 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Inter Parfums worth $2,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in Inter Parfums during the 4th quarter worth approximately $39,070,000. Victory Capital Management Inc. increased its stake in shares of Inter Parfums by 55.0% in the fourth 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 during the last quarter. Wellington Management Group LLP raised its holdings 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 acquiring an additional 99,316 shares in the last quarter. American Century Companies Inc. boosted its stake in Inter Parfums by 23.3% during the 4th quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock valued at $59,705,000 after acquiring an additional 85,871 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in Inter Parfums by 18.5% during the 4th quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company’s stock valued at $42,326,000 after acquiring an additional 50,247 shares during the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IPAR. Piper Sandler increased their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $170.00 target price on shares of Inter Parfums in a report on Tuesday, March 25th. BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a report on Monday, March 17th. 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 note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Inter Parfums has a consensus rating of “Moderate Buy” and an average price target of $162.80.

Inter Parfums Stock Up 0.0 %

Inter Parfums stock opened at $113.91 on Wednesday. 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 one year low of $108.39 and a one year high of $148.15. The company has a 50-day simple moving average of $132.94 and a 200-day simple moving average of $129.97. The firm has a market capitalization of $3.66 billion, a P/E ratio of 24.44 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The firm had revenue of $361.50 million during 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, equities analysts expect 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 was paid on Friday, March 28th. Stockholders 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 dividend yield of 2.81%. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is 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.