Inter Parfums, Inc. (NASDAQ:IPAR) Position Reduced by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,638 shares of the company’s stock after selling 4,124 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Inter Parfums were worth $2,814,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Inter Parfums during the fourth quarter valued at about $39,070,000. Victory Capital Management Inc. raised its holdings in shares of Inter Parfums by 55.0% in the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock worth $74,125,000 after purchasing an additional 200,079 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Inter Parfums by 44.2% in the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after purchasing an additional 99,316 shares in the last quarter. American Century Companies Inc. boosted its holdings in Inter Parfums by 23.3% during the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock worth $59,705,000 after buying an additional 85,871 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Inter Parfums by 18.5% in the fourth quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company’s stock worth $42,326,000 after buying an additional 50,247 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Inter Parfums Stock Up 0.0 %

Inter Parfums stock opened at $113.91 on Wednesday. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $148.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. The firm has a market cap of $3.66 billion, a PE ratio of 24.44 and a beta of 1.18. The firm’s 50 day moving average price is $132.94 and its two-hundred day moving average price is $129.97.

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

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio (DPR) is presently 62.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. DA Davidson reiterated a “buy” rating and set a $170.00 price objective on shares of Inter Parfums in a research report on Tuesday, March 25th. BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research report on Monday, March 17th. Piper Sandler upped their price objective 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. Finally, Canaccord Genuity Group lifted their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.80.

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.