Bank of New York Mellon Corp decreased its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 393,759 shares of the company’s stock after selling 78,513 shares during the period. Bank of New York Mellon Corp’s holdings in Inter Parfums were worth $25,819,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Inter Parfums by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,837,091 shares of the company’s stock worth $118,401,000 after buying an additional 46,321 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Inter Parfums by 2.6% in the 3rd quarter. Vanguard Group Inc now owns 1,837,091 shares of the company’s stock worth $118,401,000 after buying an additional 46,321 shares during the last quarter. Fort Pitt Capital Group LLC increased its holdings in shares of Inter Parfums by 14.0% in the 4th quarter. Fort Pitt Capital Group LLC now owns 515,915 shares of the company’s stock worth $33,829,000 after buying an additional 63,286 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Inter Parfums by 960,820.7% in the 3rd quarter. Clearbridge Investments LLC now owns 278,667 shares of the company’s stock worth $17,960,000 after buying an additional 278,638 shares during the last quarter. Finally, Columbus Circle Investors increased its holdings in shares of Inter Parfums by 16.5% in the 4th quarter. Columbus Circle Investors now owns 267,448 shares of the company’s stock worth $17,537,000 after buying an additional 37,822 shares during the last quarter. 56.33% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on IPAR. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, March 8th. Citigroup upped their price objective on shares of Inter Parfums from $64.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, BidaskClub raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Inter Parfums has a consensus rating of “Hold” and an average target price of $76.33.

Shares of Inter Parfums stock opened at $76.52 on Wednesday. Inter Parfums, Inc. has a 52-week low of $45.25 and a 52-week high of $80.99. The firm has a market capitalization of $2.35 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 3.17 and a beta of 0.92. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.05 and a quick ratio of 2.18.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Monday, March 4th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. Inter Parfums had a net margin of 7.96% and a return on equity of 9.17%. The company had revenue of $177.20 million during the quarter, compared to analysts’ expectations of $169.80 million. During the same quarter in the prior year, the company earned $0.14 EPS. The firm’s revenue was up 18.5% on a year-over-year basis. As a group, equities research analysts forecast that Inter Parfums, Inc. will post 1.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.44%. Inter Parfums’s dividend payout ratio (DPR) is 64.33%.

In other Inter Parfums news, CFO Philippe Santi sold 5,600 shares of the stock in a transaction on Friday, January 4th. The shares were sold at an average price of $64.13, for a total transaction of $359,128.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $64,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Russell Greenberg sold 567 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $79.02, for a total transaction of $44,804.34. Following the sale, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $197,550. The disclosure for this sale can be found here. Insiders sold a total of 27,149 shares of company stock valued at $1,826,042 in the last ninety days. 45.00% of the stock is owned by corporate insiders.

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Inter Parfums Company Profile

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.

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Institutional Ownership by Quarter for Inter Parfums (NASDAQ:IPAR)

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