Horizon Kinetics Asset Management LLC Decreases Stock Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Horizon Kinetics Asset Management LLC decreased its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,120 shares of the company’s stock after selling 4,695 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Inter Parfums were worth $19,348,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Inter Parfums by 1.2% in the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after acquiring an additional 5,056 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of Inter Parfums by 50.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock valued at $2,982,000 after buying an additional 7,771 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Inter Parfums by 36.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,108 shares of the company’s stock valued at $540,000 after buying an additional 1,095 shares during the period. Annex Advisory Services LLC increased its position in shares of Inter Parfums by 36.5% during the fourth quarter. Annex Advisory Services LLC now owns 118,390 shares of the company’s stock valued at $15,569,000 after buying an additional 31,654 shares during the period. Finally, Monument Capital Management purchased a new position in shares of Inter Parfums during the fourth quarter valued at about $362,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Analysts Set New Price Targets

IPAR has been the topic of several research analyst reports. Piper Sandler boosted their price target 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. Canaccord Genuity Group upped 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. BWS Financial restated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, January 27th. Finally, DA Davidson upped their price objective on shares of Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.80.

Inter Parfums Trading Up 2.0 %

Shares of IPAR opened at $127.22 on Monday. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $148.15. The company has a 50-day moving average of $135.80 and a 200 day moving average of $130.10. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 27.30 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR) last posted 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). 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 the consensus estimate of $361.56 million. On average, research analysts expect that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is presently 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.