Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC decreased its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,120 shares of the company’s stock after selling 4,695 shares during the quarter. Horizon Kinetics Asset Management LLC owned approximately 0.46% of Inter Parfums worth $19,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IPAR. Raymond James Financial Inc. acquired a new position in Inter Parfums in the 4th quarter valued at $39,070,000. Victory Capital Management Inc. increased its position in Inter Parfums by 55.0% in the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock valued at $74,125,000 after acquiring an additional 200,079 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Inter Parfums by 44.2% during the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after buying an additional 99,316 shares during the period. Bahl & Gaynor Inc. grew its position in shares of Inter Parfums by 18.5% during the 4th quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company’s stock worth $42,326,000 after buying an additional 50,247 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Inter Parfums by 17.2% during the fourth quarter. Bank of New York Mellon Corp now owns 291,575 shares of the company’s stock valued at $38,345,000 after purchasing an additional 42,692 shares during the period. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Wall Street Analyst Weigh In

IPAR has been the topic of a number of research reports. BWS Financial reissued a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Monday, January 27th. Piper Sandler lifted their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. DA Davidson boosted their price objective on shares of Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, 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 report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Inter Parfums has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Stock Up 2.0 %

IPAR opened at $127.22 on Monday. The company has a 50 day moving average of $135.80 and a 200 day moving average of $130.10. The company has a market cap of $4.09 billion, a PE ratio of 27.30 and a beta of 1.18. Inter Parfums, Inc. has a 12 month low of $108.39 and a 12 month high of $148.15. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $361.50 million for 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%. On average, sell-side analysts expect that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio (DPR) is presently 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.