Edgestream Partners L.P. Has $5.21 Million Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Edgestream Partners L.P. raised its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 677.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 39,598 shares of the company’s stock after buying an additional 34,503 shares during the period. Edgestream Partners L.P.’s holdings in Inter Parfums were worth $5,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after buying an additional 81 shares during the last quarter. SRH Advisors LLC boosted its holdings in Inter Parfums by 791.7% during the 4th quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after acquiring an additional 475 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in shares of Inter Parfums in the 3rd quarter worth $104,000. Blue Trust Inc. grew its stake in shares of Inter Parfums by 25.7% in the 4th quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after acquiring an additional 167 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of Inter Parfums by 15.1% in the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock valued at $174,000 after purchasing an additional 174 shares during the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Trading Up 2.4 %

Shares of IPAR stock opened at $134.86 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.32 billion, a P/E ratio of 28.94 and a beta of 1.18. The company has a 50 day moving average of $136.04 and a 200-day moving average of $129.86. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $148.15.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm had revenue of $361.50 million during the quarter, compared to analysts’ expectations of $361.56 million. Sell-side analysts anticipate that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.37%. Inter Parfums’s dividend payout ratio is 62.87%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IPAR shares. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday, January 27th. DA Davidson upped their target price on Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Piper Sandler increased their price target 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, Canaccord Genuity Group boosted their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.80.

Inter Parfums Company 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.