Goldman Sachs Group Inc. decreased its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 19.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,141 shares of the company’s stock after selling 9,217 shares during the period. Goldman Sachs Group Inc. owned approximately 0.13% of Inter Parfums worth $1,431,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in IPAR. Victory Capital Management Inc. increased its position in shares of Inter Parfums by 39.4% in the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after buying an additional 985 shares during the period. First National Bank of Omaha increased its position in shares of Inter Parfums by 21.4% in the first quarter. First National Bank of Omaha now owns 21,530 shares of the company’s stock worth $787,000 after buying an additional 3,793 shares during the period. Americafirst Capital Management LLC bought a new position in shares of Inter Parfums during the first quarter worth about $1,905,000. Stifel Financial Corp increased its position in shares of Inter Parfums by 19.3% in the first quarter. Stifel Financial Corp now owns 317,683 shares of the company’s stock worth $11,621,000 after buying an additional 51,434 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Inter Parfums during the first quarter worth about $479,000. 54.10% of the stock is owned by hedge funds and other institutional investors.
Inter Parfums, Inc. (NASDAQ IPAR) opened at 37.75 on Friday. The stock’s 50 day moving average price is $37.63 and its 200-day moving average price is $36.23. The company has a market cap of $1.18 billion, a P/E ratio of 29.26 and a beta of 1.77. Inter Parfums, Inc. has a 52-week low of $29.40 and a 52-week high of $41.70.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.17 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.80%. Inter Parfums’s dividend payout ratio is presently 52.31%.
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Several research analysts have weighed in on the company. DA Davidson restated a “buy” rating and issued a $45.00 price target (up from $44.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Citigroup Inc. restated a “buy” rating and issued a $45.00 price target (up from $42.00) on shares of Inter Parfums in a research note on Thursday, August 10th. BidaskClub upgraded Inter Parfums from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research downgraded Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC assumed coverage on Inter Parfums in a research note on Friday, June 2nd. They issued a “hold” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Inter Parfums presently has an average rating of “Buy” and a consensus price target of $42.00.
In related news, CFO Russell Greenberg sold 2,500 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $39.10, for a total value of $97,750.00. Following the sale, the chief financial officer now owns 5,500 shares in the company, valued at approximately $215,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 45.40% of the stock is currently owned by insiders.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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