Panagora Asset Management Inc. lowered its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 4.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 70,928 shares of the company’s stock after selling 3,044 shares during the period. Panagora Asset Management Inc.’s holdings in Inter Parfums were worth $4,571,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Inter Parfums during the second quarter worth $150,000. SG Americas Securities LLC increased its position in shares of Inter Parfums by 58.6% during the second quarter. SG Americas Securities LLC now owns 4,002 shares of the company’s stock worth $214,000 after purchasing an additional 1,478 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Inter Parfums during the second quarter worth $241,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Inter Parfums during the third quarter worth $265,000. Finally, Victory Capital Management Inc. increased its position in shares of Inter Parfums by 15.9% during the second quarter. Victory Capital Management Inc. now owns 7,609 shares of the company’s stock worth $407,000 after purchasing an additional 1,045 shares in the last quarter. Institutional investors own 55.96% of the company’s stock.
Shares of IPAR stock opened at $58.92 on Friday. The firm has a market cap of $1.85 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.37 and a current ratio of 3.36. Inter Parfums, Inc. has a 12-month low of $41.30 and a 12-month high of $67.50.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.87%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, December 28th. Inter Parfums’s dividend payout ratio is presently 63.16%.
A number of brokerages have recently issued reports on IPAR. DA Davidson upped their price target on Inter Parfums to $72.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. BidaskClub raised Inter Parfums from a “hold” rating to a “buy” rating in a research report on Tuesday, September 25th. Zacks Investment Research raised Inter Parfums from a “hold” rating to a “strong-buy” rating and set a $68.00 price target on the stock in a research report on Saturday, October 27th. Finally, Citigroup set a $64.00 price target on Inter Parfums and gave the stock a “hold” rating in a research report on Wednesday, November 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Inter Parfums has an average rating of “Buy” and a consensus price target of $67.80.
About Inter Parfums
Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
Further Reading: Debt-To-Equity Ratio
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