Illinois Municipal Retirement Fund Has $1.93 Million Stock Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Illinois Municipal Retirement Fund lowered its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,410 shares of the company’s stock after selling 794 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Inter Parfums were worth $1,931,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in Inter Parfums by 94.4% during the 3rd quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock worth $37,136,000 after acquiring an additional 134,243 shares during the last quarter. William Blair Investment Management LLC boosted its position in Inter Parfums by 10.8% during the 3rd quarter. William Blair Investment Management LLC now owns 243,675 shares of the company’s stock worth $32,735,000 after acquiring an additional 23,838 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Inter Parfums by 1.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 202,451 shares of the company’s stock worth $27,197,000 after acquiring an additional 3,774 shares during the last quarter. WCM Investment Management LLC boosted its position in Inter Parfums by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 200,336 shares of the company’s stock worth $29,592,000 after acquiring an additional 17,079 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Inter Parfums by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 178,867 shares of the company’s stock worth $24,029,000 after acquiring an additional 10,714 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Trading Down 9.6 %

NASDAQ IPAR opened at $118.01 on Friday. The company has a market cap of $3.78 billion, a PE ratio of 24.84 and a beta of 1.13. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 12 month low of $116.75 and a 12 month high of $158.13. The stock has a 50 day moving average of $137.92 and a 200-day moving average of $135.52.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The business had revenue of $328.74 million for the quarter, compared to analyst estimates of $329.00 million. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that Inter Parfums, Inc. will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.75 per share. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.54%. Inter Parfums’s dividend payout ratio (DPR) is currently 63.16%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler reduced their price target on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research report on Thursday. BWS Financial reissued a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Wednesday, April 17th.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $150,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 43.90% of the company’s stock.

About Inter Parfums

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.