Cynosure Group LLC Sells 692 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Cynosure Group LLC trimmed its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 22.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,335 shares of the company’s stock after selling 692 shares during the quarter. Cynosure Group LLC’s holdings in Inter Parfums were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IPAR. Alliancebernstein L.P. increased its stake in Inter Parfums by 75.6% in the 4th quarter. Alliancebernstein L.P. now owns 49,265 shares of the company’s stock worth $6,479,000 after acquiring an additional 21,203 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Inter Parfums by 80.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,815 shares of the company’s stock valued at $633,000 after purchasing an additional 2,140 shares in the last quarter. Level Four Advisory Services LLC grew its holdings in shares of Inter Parfums by 1.9% in the fourth quarter. Level Four Advisory Services LLC now owns 8,101 shares of the company’s stock valued at $1,065,000 after purchasing an additional 154 shares in the last quarter. Norges Bank bought a new stake in Inter Parfums in the fourth quarter worth $32,095,000. Finally, JPMorgan Chase & Co. raised its stake in Inter Parfums by 32.4% during the fourth quarter. JPMorgan Chase & Co. now owns 133,816 shares of the company’s stock valued at $17,598,000 after purchasing an additional 32,741 shares in the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Inter Parfums Stock Performance

Shares of NASDAQ:IPAR opened at $114.48 on Thursday. 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 12 month low of $108.39 and a 12 month high of $148.15. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 24.57 and a beta of 1.18. The firm’s 50-day moving average is $131.76 and its 200 day moving average is $129.84.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $361.56 million. Research analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.80%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is 62.87%.

Analysts Set New Price Targets

A number of equities analysts have commented on IPAR shares. 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 price target on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Piper Sandler upped their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, DA Davidson reiterated a “buy” rating and issued a $170.00 target price on shares of Inter Parfums in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $162.80.

About Inter Parfums

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.