MeadowBrook Investment Advisors LLC Sells 390 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

MeadowBrook Investment Advisors LLC reduced its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 23.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,290 shares of the company’s stock after selling 390 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Inter Parfums were worth $167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IPAR. Texas Permanent School Fund Corp raised its position in Inter Parfums by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 15,674 shares of the company’s stock valued at $2,202,000 after purchasing an additional 203 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Inter Parfums by 476.0% in the 1st quarter. Quantbot Technologies LP now owns 2,932 shares of the company’s stock worth $412,000 after buying an additional 2,423 shares during the period. Empowered Funds LLC purchased a new stake in shares of Inter Parfums in the 1st quarter worth $1,018,000. ProShare Advisors LLC lifted its holdings in shares of Inter Parfums by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 3,692 shares of the company’s stock worth $519,000 after buying an additional 255 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Inter Parfums by 7.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 5,633 shares of the company’s stock worth $801,000 after buying an additional 390 shares during the period. 55.57% of the stock is owned by institutional investors.

Inter Parfums Stock Down 0.6 %

Shares of IPAR traded down $0.74 during trading hours on Thursday, hitting $127.46. The company had a trading volume of 10,505 shares, compared to its average volume of 145,121. The company has a market capitalization of $4.08 billion, a PE ratio of 27.51 and a beta of 1.16. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a one year low of $108.39 and a one year high of $156.75. The company’s fifty day moving average price is $122.42 and its two-hundred day moving average price is $122.47.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. During the same period in the prior year, the company posted $1.66 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts forecast that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, December 16th. Inter Parfums’s dividend payout ratio is currently 64.38%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IPAR shares. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday. Piper Sandler lowered their target price on Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, DA Davidson reissued a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.50.

Insider Activity at Inter Parfums

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 43.90% of the stock is currently owned by corporate insiders.

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.