Pier Capital LLC Purchases 16,942 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Pier Capital LLC boosted its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 36.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,238 shares of the company’s stock after purchasing an additional 16,942 shares during the period. Pier Capital LLC’s holdings in Inter Parfums were worth $8,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after buying an additional 81 shares during the period. SRH Advisors LLC boosted its holdings in Inter Parfums by 791.7% during the 4th quarter. SRH Advisors LLC now owns 535 shares of the company’s stock valued at $70,000 after acquiring an additional 475 shares during the period. Northwest & Ethical Investments L.P. bought a new position in Inter Parfums in the 3rd quarter valued at $104,000. Blue Trust Inc. increased its stake in Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after purchasing an additional 167 shares during the period. Finally, Principal Securities Inc. lifted its position in shares of Inter Parfums by 15.1% during the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock worth $174,000 after purchasing an additional 174 shares during the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Inter Parfums Stock Performance

Shares of IPAR stock opened at $121.01 on Tuesday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 25.97 and a beta of 1.18. Inter Parfums, Inc. has a 52-week low of $108.39 and a 52-week high of $148.15. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $134.72 and its 200 day moving average is $129.91.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $361.50 million during 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%. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, March 14th will be issued a $0.80 dividend. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is currently 62.87%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. BWS Financial reissued a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Monday, March 17th. Canaccord Genuity Group lifted their target price on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, DA Davidson increased their price target on Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $162.80.

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.