Cynosure Group LLC Lowers Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Cynosure Group LLC lowered its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 2,335 shares of the company’s stock after selling 692 shares during the quarter. Cynosure Group LLC’s holdings in Inter Parfums were worth $307,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Inter Parfums by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company’s stock worth $269,677,000 after buying an additional 20,721 shares during the period. State Street Corp raised its holdings in shares of Inter Parfums by 0.3% in the third quarter. State Street Corp now owns 676,253 shares of the company’s stock valued at $87,561,000 after acquiring an additional 2,255 shares in the last quarter. Victory Capital Management Inc. lifted its stake in 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 acquiring an additional 200,079 shares during the period. American Century Companies Inc. grew its holdings in Inter Parfums by 23.3% during the 4th quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock worth $59,705,000 after acquiring an additional 85,871 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Inter Parfums by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after purchasing an additional 5,056 shares during the period. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IPAR. Canaccord Genuity Group upped their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Piper Sandler upped their target price on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. 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, DA Davidson reissued a “buy” rating and issued a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. One 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $162.80.

Inter Parfums Stock Performance

Shares of IPAR stock opened at $114.48 on Thursday. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $148.15. The business’s fifty day simple moving average is $131.76 and its 200-day simple moving average is $129.84. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.68 billion, a PE ratio of 24.57 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last released 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 during the quarter, compared to analysts’ expectations of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Analysts expect that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is currently 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.