Truist Financial Corp Has $2.31 Million Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Truist Financial Corp raised its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 17,583 shares of the company’s stock after acquiring an additional 184 shares during the quarter. Truist Financial Corp’s holdings in Inter Parfums were worth $2,312,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Inter Parfums by 55.9% in the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after purchasing an additional 81 shares in the last quarter. SRH Advisors LLC boosted its holdings in shares of Inter Parfums by 791.7% in the 4th quarter. SRH Advisors LLC now owns 535 shares of the company’s stock valued at $70,000 after purchasing an additional 475 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Inter Parfums by 83.4% in the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after purchasing an additional 296 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Inter Parfums in the 3rd quarter valued at $104,000. Finally, Principal Securities Inc. boosted its holdings in shares of Inter Parfums by 15.1% in the 4th 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. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Stock Up 3.9 %

Shares of NASDAQ:IPAR opened at $144.54 on Thursday. The firm has a market cap of $4.63 billion, a P/E ratio of 31.02 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. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $154.39. The business has a fifty day simple moving average of $135.47 and a 200 day simple moving average of $129.52.

Inter Parfums (NASDAQ:IPAR) last announced its 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). The company had revenue of $361.50 million for the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Analysts predict that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.80 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.21%. Inter Parfums’s dividend payout ratio (DPR) is 58.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler raised their target price on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Monday, January 27th. Canaccord Genuity Group started coverage on Inter Parfums in a research note on Thursday, January 16th. They issued a “buy” rating and a $158.00 price target for the company. Finally, DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Inter Parfums presently has a consensus rating of “Moderate Buy” and an average target price of $159.40.

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.