Pier Capital LLC Acquires 16,942 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Pier Capital LLC boosted its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 36.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,238 shares of the company’s stock after buying an additional 16,942 shares during the quarter. Pier Capital LLC owned 0.20% of Inter Parfums worth $8,316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IPAR. GAMMA Investing LLC grew its holdings in shares of Inter Parfums by 55.9% in the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after acquiring an additional 81 shares during the period. SRH Advisors LLC grew its stake in shares of Inter Parfums by 791.7% during the 4th quarter. SRH Advisors LLC now owns 535 shares of the company’s stock valued at $70,000 after purchasing an additional 475 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in shares of Inter Parfums during the 3rd quarter valued at about $104,000. Blue Trust Inc. boosted its holdings in shares of Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after buying an additional 167 shares during the last quarter. Finally, Principal Securities Inc. raised its position in Inter Parfums by 15.1% in the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock worth $174,000 after acquiring an additional 174 shares during the period. Institutional investors own 55.57% of the company’s stock.

Analyst Ratings Changes

IPAR has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday, March 17th. Finally, DA Davidson increased their price target on Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat.com, Inter Parfums currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $121.01 on Tuesday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 25.97 and a beta of 1.18. The firm has a fifty day moving average price of $134.72 and a 200 day moving average price of $129.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $148.15.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results 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). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. As a group, sell-side analysts expect that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.80 dividend. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.64%. 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.