Bahl & Gaynor Inc. Lowers Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Bahl & Gaynor Inc. trimmed its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 7.0% during the 4th quarter, Holdings Channel reports. The fund owned 238,175 shares of the company’s stock after selling 17,849 shares during the period. Bahl & Gaynor Inc.’s holdings in Inter Parfums were worth $34,300,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Invesco Ltd. raised its holdings in shares of 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 in the last quarter. William Blair Investment Management LLC increased its position in shares of Inter Parfums by 10.8% during the 3rd quarter. William Blair Investment Management LLC now owns 243,675 shares of the company’s stock valued at $32,735,000 after purchasing an additional 23,838 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Inter Parfums by 1.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 202,451 shares of the company’s stock valued at $27,197,000 after purchasing an additional 3,774 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Inter Parfums by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 200,336 shares of the company’s stock valued at $29,592,000 after purchasing an additional 17,079 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Inter Parfums by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 178,867 shares of the company’s stock valued at $24,029,000 after purchasing an additional 10,714 shares during the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Inter Parfums Price Performance

Shares of IPAR stock opened at $119.56 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 25.17 and a beta of 1.13. Inter Parfums, Inc. has a twelve month low of $116.75 and a twelve month high of $158.13. The stock has a fifty day simple moving average of $136.61 and a two-hundred day simple moving average of $135.31.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The company had revenue of $328.74 million for the quarter, compared to analysts’ expectations of $329.00 million. During the same quarter last year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts predict that Inter Parfums, Inc. will post 5.15 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 paid a $0.75 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a yield of 2.51%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IPAR shares. BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th. DA Davidson reissued a “buy” rating and set a $192.00 target price on shares of Inter Parfums in a research report on Friday. Finally, Piper Sandler cut their target price on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research report on Thursday.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.