WCM Investment Management LLC Raises Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

WCM Investment Management LLC lifted its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 2.9% during the third quarter, HoldingsChannel.com reports. The firm owned 193,660 shares of the company’s stock after purchasing an additional 5,482 shares during the period. WCM Investment Management LLC’s holdings in Inter Parfums were worth $24,835,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in IPAR. CWM LLC boosted its position in shares of Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after buying an additional 88 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after purchasing an additional 296 shares in the last quarter. Mendota Financial Group LLC purchased a new position in shares of Inter Parfums during the 2nd quarter worth approximately $89,000. Crossmark Global Holdings Inc. acquired a new position in shares of Inter Parfums during the 3rd quarter worth approximately $209,000. Finally, Choreo LLC purchased a new stake in Inter Parfums in the 2nd quarter valued at approximately $213,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IPAR shares. BWS Financial reissued a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a report on Wednesday, October 23rd. StockNews.com raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler reissued an “overweight” rating and issued a $151.00 price objective (up previously from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $163.00 target price on shares of Inter Parfums in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Inter Parfums has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Insider Activity at Inter Parfums

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 43.90% of the company’s stock.

Inter Parfums Trading Up 0.2 %

Shares of IPAR traded up $0.31 during trading hours on Monday, hitting $128.54. The stock had a trading volume of 37,560 shares, compared to its average volume of 144,161. The company’s fifty day simple moving average is $122.32 and its 200 day simple moving average is $122.31. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $156.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.27 and a current ratio of 2.82. The firm has a market cap of $4.12 billion, a P/E ratio of 27.52 and a beta of 1.16.

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

Inter Parfums Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, December 16th. Inter Parfums’s payout ratio is currently 64.38%.

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.