Cibc World Markets Corp Takes Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Cibc World Markets Corp bought a new position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) during the fourth quarter, Holdings Channel reports. The fund bought 1,705 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC grew its position in shares of Inter Parfums by 125.3% during the 3rd quarter. Intech Investment Management LLC now owns 7,479 shares of the company’s stock valued at $968,000 after purchasing an additional 4,160 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Inter Parfums by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 190,331 shares of the company’s stock worth $24,644,000 after acquiring an additional 1,129 shares during the last quarter. FMR LLC raised its holdings in shares of Inter Parfums by 13.3% in the 3rd quarter. FMR LLC now owns 3,365 shares of the company’s stock valued at $436,000 after acquiring an additional 395 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of Inter Parfums by 22.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 7,960 shares of the company’s stock valued at $1,031,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Inter Parfums during the third quarter worth about $104,000. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IPAR has been the subject of several research analyst reports. BWS Financial reiterated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, March 17th. Canaccord Genuity Group lifted their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Piper Sandler increased their target price on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, DA Davidson reaffirmed a “buy” rating and set a $170.00 price target on shares of Inter Parfums in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Inter Parfums presently has an average rating of “Moderate Buy” and a consensus target price of $162.80.

Inter Parfums Stock Performance

Inter Parfums stock opened at $119.02 on Thursday. The firm has a fifty day simple moving average of $134.47 and a two-hundred day simple moving average of $129.91. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $148.15. The company has a market capitalization of $3.82 billion, a PE ratio of 25.54 and a beta of 1.18. 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 (NASDAQ:IPAR) last issued its 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 company had revenue of $361.50 million for the quarter, compared to analysts’ expectations of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Research analysts expect that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.80 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, March 14th. Inter Parfums’s dividend payout ratio is currently 62.87%.

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.