First Horizon Advisors Inc. Sells 167 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

First Horizon Advisors Inc. reduced its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 41.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 240 shares of the company’s stock after selling 167 shares during the quarter. First Horizon Advisors Inc.’s holdings in Inter Parfums were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC raised its holdings in Inter Parfums by 2.9% during the 3rd quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock worth $24,835,000 after purchasing an additional 5,482 shares during the last quarter. Geode Capital Management LLC raised its holdings in Inter Parfums by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after purchasing an additional 5,056 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Inter Parfums by 50.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock worth $2,982,000 after purchasing an additional 7,771 shares during the last quarter. US Bancorp DE grew its position in shares of Inter Parfums by 12.2% during the 3rd quarter. US Bancorp DE now owns 6,872 shares of the company’s stock worth $890,000 after buying an additional 746 shares during the period. Finally, Black Swift Group LLC acquired a new position in shares of Inter Parfums during the 3rd quarter worth about $647,000. 55.57% of the stock is owned by institutional investors.

Inter Parfums Price Performance

Shares of IPAR opened at $138.92 on Friday. 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 stock has a 50 day simple moving average of $135.66 and a 200 day simple moving average of $129.59. Inter Parfums, Inc. has a 52-week low of $108.39 and a 52-week high of $152.33. The firm has a market capitalization of $4.45 billion, a PE ratio of 29.81 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data 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 net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. Sell-side analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 2.30%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio is 58.94%.

Analysts Set New Price Targets

Several research firms have recently issued reports on IPAR. Piper Sandler boosted their target price on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group boosted their target price on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday. DA Davidson boosted their target price on Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, BWS Financial restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Inter Parfums presently has an average rating of “Moderate Buy” and an average target price of $162.80.

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.