California State Teachers Retirement System increased its position in shares of Inter Parfums Inc. (NASDAQ:IPAR) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 36,637 shares of the company’s stock after buying an additional 689 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Inter Parfums worth $1,047,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in shares of Inter Parfums by 0.5% in the first quarter. BlackRock Fund Advisors now owns 1,070,812 shares of the company’s stock valued at $33,088,000 after buying an additional 5,261 shares during the period. Royce & Associates LP increased its position in shares of Inter Parfums by 43.5% in the first quarter. Royce & Associates LP now owns 509,630 shares of the company’s stock valued at $15,748,000 after buying an additional 154,530 shares during the period. Picton Mahoney Asset Management increased its position in shares of Inter Parfums by 12,217.7% in the first quarter. Picton Mahoney Asset Management now owns 344,895 shares of the company’s stock valued at $10,659,000 after buying an additional 342,095 shares during the period. State Street Corp increased its position in shares of Inter Parfums by 1.2% in the first quarter. State Street Corp now owns 323,798 shares of the company’s stock valued at $10,005,000 after buying an additional 3,976 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Inter Parfums by 5.2% in the first quarter. Geode Capital Management LLC now owns 130,233 shares of the company’s stock valued at $4,024,000 after buying an additional 6,402 shares during the period. 54.37% of the stock is currently owned by hedge funds and other institutional investors.
Inter Parfums Inc. (NASDAQ:IPAR) traded down 0.82% during mid-day trading on Monday, hitting $31.51. The stock had a trading volume of 66,647 shares. Inter Parfums Inc. has a one year low of $20.37 and a one year high of $35.07. The stock has a market cap of $978.70 million, a PE ratio of 33.52 and a beta of 1.60. The firm’s 50-day moving average is $33.48 and its 200 day moving average is $30.75.
Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The firm earned $117.20 million during the quarter, compared to analysts’ expectations of $116.16 million. Inter Parfums had a net margin of 6.02% and a return on equity of 6.27%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. Equities research analysts expect that Inter Parfums Inc. will post $1.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, September 28th. Inter Parfums’s payout ratio is 63.16%.
Several research analysts have weighed in on the company. B. Riley reiterated a “buy” rating and issued a $40.00 price target on shares of Inter Parfums in a report on Friday, August 12th. TheStreet upgraded Inter Parfums from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research upgraded Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Sidoti upgraded Inter Parfums from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, June 28th. Finally, Brean Capital boosted their price target on Inter Parfums from $36.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $36.71.
In related news, CFO Russell Greenberg sold 12,323 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $34.62, for a total transaction of $426,622.26. Following the completion of the sale, the chief financial officer now directly owns 3,000 shares in the company, valued at $103,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Henry B. Clarke sold 5,582 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $34.50, for a total transaction of $192,579.00. Following the sale, the insider now owns 2,707 shares of the company’s stock, valued at $93,391.50. The disclosure for this sale can be found here. Corporate insiders own 45.50% of the company’s stock.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.
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