BlackRock Fund Advisors raised its position in Inter Parfums Inc. (NASDAQ:IPAR) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,070,812 shares of the company’s stock after buying an additional 5,261 shares during the period. BlackRock Fund Advisors owned about 3.45% of Inter Parfums worth $33,088,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in IPAR. Independent Portfolio Consultants Inc. increased its stake in Inter Parfums by 15.8% in the first quarter. Independent Portfolio Consultants Inc. now owns 11,125 shares of the company’s stock worth $344,000 after buying an additional 1,515 shares during the last quarter. Aperio Group LLC increased its stake in Inter Parfums by 41.9% in the first quarter. Aperio Group LLC now owns 12,141 shares of the company’s stock worth $375,000 after buying an additional 3,582 shares during the last quarter. BlackRock Group LTD increased its stake in Inter Parfums by 10.4% in the first quarter. BlackRock Group LTD now owns 18,189 shares of the company’s stock worth $563,000 after buying an additional 1,710 shares during the last quarter. Sei Investments Co. increased its stake in Inter Parfums by 3.3% in the fourth quarter. Sei Investments Co. now owns 44,486 shares of the company’s stock worth $1,060,000 after buying an additional 1,420 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Inter Parfums by 2.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 51,322 shares of the company’s stock worth $1,223,000 after buying an additional 1,105 shares during the last quarter.
Shares of Inter Parfums Inc. (NASDAQ:IPAR) traded down 1.21% during mid-day trading on Wednesday, hitting $32.70. The company had a trading volume of 367,190 shares. Inter Parfums Inc. has a one year low of $20.37 and a one year high of $33.48. The company’s 50-day moving average is $28.95 and its 200 day moving average is $28.38. The company has a market capitalization of $1.02 billion and a PE ratio of 36.54.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Tuesday, June 28th.
IPAR has been the subject of a number of recent analyst reports. Citigroup Inc. upped their target price on Inter Parfums from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, May 16th. B. Riley upgraded Inter Parfums from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $36.00 in a research report on Tuesday. Sidoti upgraded Inter Parfums from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $36.60.
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.
