Inter Parfums, Inc. (NASDAQ:IPAR) Director Gilbert Harrison Sells 500 Shares

Inter Parfums, Inc. (NASDAQ:IPAR – Get Rating) Director Gilbert Harrison sold 500 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $137.00, for a total value of $68,500.00. Following the completion of the sale, the director now directly owns 250 shares in the company, valued at approximately $34,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Gilbert Harrison also recently made the following trade(s):

• On Tuesday, March 7th, Gilbert Harrison sold 1,250 shares of Inter Parfums stock. The shares were sold at an average price of $137.50, for a total value of $171,875.00.

Inter Parfums Trading Down 3.4 %

NASDAQ IPAR traded down $4.79 during trading hours on Friday, hitting $136.94. 286,268 shares of the company’s stock were exchanged, compared to its average volume of 138,026. The business’s 50 day moving average is $121.05 and its 200-day moving average is $97.89. Inter Parfums, Inc. has a 12-month low of $64.52 and a 12-month high of $141.73. The firm has a market capitalization of $4.40 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.44 and a current ratio of 2.29.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a dividend of $0.625 per share. The ex-dividend date is Tuesday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.50. This represents a $2.50 annualized dividend and a yield of 1.83%. Inter Parfums’s dividend payout ratio is 66.14%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IPAR. BWS Financial upped their price objective on Inter Parfums from $150.00 to $172.00 and gave the company a “buy” rating in a research report on Friday, March 3rd. StockNews.com began coverage on Inter Parfums in a research report on Thursday. They issued a “hold” rating on the stock. DA Davidson upped their price objective on Inter Parfums from $126.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Piper Sandler upped their price objective on Inter Parfums from $130.00 to $160.00 in a research report on Thursday, March 2nd. Finally, Jefferies Financial Group upped their price objective on Inter Parfums from $96.00 to $104.00 and gave the company a “hold” rating in a research report on Tuesday, January 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Inter Parfums presently has an average rating of “Moderate Buy” and a consensus price target of $138.60.

Hedge Funds Weigh In On Inter Parfums

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Inter Parfums by 1.6% in the 3rd quarter. BlackRock Inc. now owns 2,728,187 shares of the company’s stock worth $205,870,000 after purchasing an additional 42,380 shares during the period. Vanguard Group Inc. raised its holdings in shares of Inter Parfums by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,073,741 shares of the company’s stock worth $156,484,000 after purchasing an additional 43,380 shares during the period. Morgan Stanley raised its holdings in shares of Inter Parfums by 431.0% in the 4th quarter. Morgan Stanley now owns 1,018,907 shares of the company’s stock worth $98,345,000 after purchasing an additional 827,032 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Inter Parfums by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 885,693 shares of the company’s stock worth $66,833,000 after purchasing an additional 4,361 shares during the period. Finally, Copeland Capital Management LLC raised its holdings in shares of Inter Parfums by 15.2% in the 4th quarter. Copeland Capital Management LLC now owns 741,930 shares of the company’s stock worth $71,611,000 after purchasing an additional 97,684 shares during the period. 55.41% of the stock is currently owned by hedge funds and other institutional investors.

About Inter Parfums

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Inter Parfums, Inc engages in the business of manufacturing, marketing, and distributing wide array of fragrances and related products. It operates through the European Based Operations and United States Based Operations segments. The European Based Operations segment conducts primarily in France. The United States Based Operations segment includes the sale of prestige brand name fragrances.