Pictet Asset Management Holding SA Has $44.80 Million Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Pictet Asset Management Holding SA lowered its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 25.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 340,628 shares of the company’s stock after selling 116,930 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Inter Parfums were worth $44,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of IPAR. GAMMA Investing LLC boosted its stake in shares of Inter Parfums by 55.9% during the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after acquiring an additional 81 shares during the period. SRH Advisors LLC boosted its position in Inter Parfums by 791.7% during the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after purchasing an additional 475 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in shares of Inter Parfums in the third quarter valued at $104,000. Blue Trust Inc. raised its position in shares of Inter Parfums by 25.7% in 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 during the period. Finally, Principal Securities Inc. lifted its stake in shares of Inter Parfums by 15.1% during the 4th quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock worth $174,000 after buying an additional 174 shares during the last quarter. Institutional investors own 55.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on IPAR shares. Canaccord Genuity Group upped their price target 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. DA Davidson reissued a “buy” rating and issued a $170.00 target price on shares of Inter Parfums in a research report on Tuesday, March 25th. Piper Sandler increased their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Trading Down 3.5 %

Shares of Inter Parfums stock opened at $117.26 on Monday. The firm’s 50 day moving average is $133.44 and its 200 day moving average is $129.88. The firm has a market capitalization of $3.77 billion, a PE ratio of 25.16 and a beta of 1.18. Inter Parfums, Inc. has a 1 year low of $108.39 and a 1 year high of $148.15. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Equities research analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.73%. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is presently 62.87%.

Inter Parfums Company 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.