Wedbush Securities Inc. Purchases Shares of 1,817 Inter Parfums, Inc. (NASDAQ:IPAR)

Wedbush Securities Inc. acquired a new position in Inter Parfums, Inc. (NASDAQ:IPAR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,817 shares of the company’s stock, valued at approximately $239,000.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Inter Parfums during the fourth quarter worth $39,070,000. Norges Bank acquired a new position in Inter Parfums during the 4th quarter valued at about $32,095,000. Victory Capital Management Inc. raised its stake in Inter Parfums by 55.0% in the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock valued at $74,125,000 after buying an additional 200,079 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Inter Parfums by 44.2% in the third quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after acquiring an additional 99,316 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Inter Parfums by 23.3% during the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock worth $59,705,000 after acquiring an additional 85,871 shares during the last quarter. Institutional investors own 55.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on IPAR. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, March 17th. Canaccord Genuity Group lifted 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. Finally, DA Davidson reissued a “buy” rating and set a $170.00 price objective on shares of Inter Parfums in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Inter Parfums has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Stock Down 3.7 %

IPAR stock opened at $104.47 on Friday. The company has a market capitalization of $3.36 billion, a P/E ratio of 22.42 and a beta of 1.15. Inter Parfums, Inc. has a 12 month low of $97.65 and a 12 month high of $148.15. The firm’s fifty day simple moving average is $125.84 and its 200-day simple moving average is $128.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The business had revenue of $361.50 million during 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%. As a group, equities research analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 3.06%. Inter Parfums’s payout ratio 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.