TIAA CREF Investment Management LLC cut its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 3.4% during the first quarter, Holdings Channel reports. The firm owned 46,555 shares of the company’s stock after selling 1,660 shares during the period. TIAA CREF Investment Management LLC’s holdings in Inter Parfums were worth $1,702,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Inter Parfums during the first quarter valued at about $107,000. US Bancorp DE increased its stake in shares of Inter Parfums by 45.4% in the first quarter. US Bancorp DE now owns 3,187 shares of the company’s stock valued at $116,000 after buying an additional 995 shares during the period. Victory Capital Management Inc. increased its stake in shares of Inter Parfums by 39.4% in the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock valued at $127,000 after buying an additional 985 shares during the period. Bank of Montreal Can increased its stake in shares of Inter Parfums by 13.0% in the first quarter. Bank of Montreal Can now owns 3,733 shares of the company’s stock valued at $137,000 after buying an additional 430 shares during the period. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Inter Parfums during the first quarter valued at about $139,000. Institutional investors own 54.18% of the company’s stock.
Inter Parfums, Inc. (NASDAQ:IPAR) opened at 39.15 on Thursday. The company’s 50 day moving average price is $37.25 and its 200-day moving average price is $35.95. Inter Parfums, Inc. has a 12-month low of $29.40 and a 12-month high of $41.70. The company has a market capitalization of $1.22 billion, a P/E ratio of 30.35 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $129.10 million during the quarter, compared to analyst estimates of $122.57 million. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. Equities analysts forecast that Inter Parfums, Inc. will post $1.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, September 28th. Inter Parfums’s dividend payout ratio is currently 52.31%.
TRADEMARK VIOLATION NOTICE: This piece of content was published by Ticker Report and is the property of of Ticker Report. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.tickerreport.com/banking-finance/2799983/inter-parfums-inc-ipar-stake-decreased-by-tiaa-cref-investment-management-llc.html.
Several brokerages have issued reports on IPAR. Zacks Investment Research upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, May 1st. BidaskClub upgraded Inter Parfums from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Jefferies Group LLC assumed coverage on Inter Parfums in a report on Friday, June 2nd. They set a “hold” rating and a $35.00 price objective for the company. DA Davidson reiterated a “buy” rating and set a $44.00 price objective on shares of Inter Parfums in a report on Monday, May 8th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $45.00 price objective (up from $42.00) on shares of Inter Parfums in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Inter Parfums currently has an average rating of “Buy” and an average price target of $40.43.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
Want to see what other hedge funds are holding IPAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inter Parfums, Inc. (NASDAQ:IPAR).
Receive News & Ratings for Inter Parfums Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inter Parfums Inc. and related companies with MarketBeat.com's FREE daily email newsletter.