Victory Capital Management Inc. Raises Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Victory Capital Management Inc. boosted its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 55.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 563,646 shares of the company’s stock after buying an additional 200,079 shares during the quarter. Victory Capital Management Inc.’s holdings in Inter Parfums were worth $74,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in 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 buying an additional 81 shares during the period. SRH Advisors LLC lifted its holdings in Inter Parfums by 791.7% in the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after buying an additional 475 shares during the period. Northwest & Ethical Investments L.P. bought a new position in shares of Inter Parfums during the third quarter valued at approximately $104,000. Blue Trust Inc. increased its stake in shares of Inter Parfums by 25.7% during the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $106,000 after purchasing an additional 167 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in shares of Inter Parfums by 15.1% during the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock valued at $174,000 after purchasing an additional 174 shares in the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Inter Parfums Price Performance

Shares of IPAR opened at $131.68 on Friday. The company has a market capitalization of $4.22 billion, a P/E ratio of 28.26 and a beta of 1.20. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $136.06 and a 200 day moving average of $129.84. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month 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). The firm had revenue of $361.50 million for the quarter, compared to the consensus estimate 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 anticipate that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is 62.87%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IPAR shares. BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Monday, January 27th. Piper Sandler raised their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. DA Davidson raised their target price on shares of Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Inter Parfums presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

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.