Inter Parfums, Inc. (IPAR) Position Decreased by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY decreased its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 6.7% during the first quarter, Holdings Channel reports. The fund owned 11,517 shares of the company’s stock after selling 827 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Inter Parfums were worth $421,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Inter Parfums during the first quarter valued at approximately $107,000. US Bancorp DE increased its stake in shares of Inter Parfums by 45.4% in the first quarter. US Bancorp DE now owns 3,187 shares of the company’s stock worth $116,000 after buying an additional 995 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Inter Parfums by 39.4% in the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after buying an additional 985 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Inter Parfums by 13.0% in the first quarter. Bank of Montreal Can now owns 3,733 shares of the company’s stock worth $137,000 after buying an additional 430 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new stake in shares of Inter Parfums during the first quarter worth about $139,000. Hedge funds and other institutional investors own 54.10% of the company’s stock.
Shares of Inter Parfums, Inc. (IPAR) traded up 0.39% during trading on Wednesday, hitting $38.85. 4,392 shares of the company’s stock were exchanged. Inter Parfums, Inc. has a 12-month low of $29.40 and a 12-month high of $41.70. The company has a 50-day moving average of $37.50 and a 200-day moving average of $36.16. The company has a market cap of $1.21 billion, a P/E ratio of 30.12 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Monday, August 7th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $129.10 million during the quarter, compared to analysts’ expectations of $122.57 million. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. On average, equities analysts expect that Inter Parfums, Inc. will post $1.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, September 28th. Inter Parfums’s dividend payout ratio (DPR) is 52.31%.
A number of analysts have issued reports on IPAR shares. Zacks Investment Research upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Monday, May 1st. DA Davidson reiterated a “buy” rating and issued a $44.00 price target on shares of Inter Parfums in a report on Monday, May 8th. Jefferies Group LLC started coverage on shares of Inter Parfums in a report on Friday, June 2nd. They issued a “hold” rating and a $35.00 price target on the stock. BidaskClub upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $45.00 price target (up from $42.00) on shares of Inter Parfums in a report on Thursday, August 10th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $42.00.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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