Trading Report: The Swiss National Bank reaches $849,000 position of Inter Parfums Inc. (IPAR)

The Swiss National Bank reaches $849,000 position  of Inter Parfums Inc. (IPAR)

Swiss National Bank continued to hold its stake in shares of Inter Parfums Inc. (NASDAQ:IPAR) during the second quarter, Holdings Channel reports. The fund owned 29,700 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned approximately 0.10% of Inter Parfums worth $849,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Inter Parfums during the second quarter valued at about $111,000. Huntington National Bank increased its stake in shares of Inter Parfums by 5.6% in the second quarter. Huntington National Bank now owns 4,679 shares of the company’s stock valued at $134,000 after buying an additional 249 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Inter Parfums by 80.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,893 shares of the company’s stock valued at $168,000 after buying an additional 2,634 shares in the last quarter. Aperio Group LLC increased its stake in shares of Inter Parfums by 41.9% in the first quarter. Aperio Group LLC now owns 12,141 shares of the company’s stock valued at $375,000 after buying an additional 3,582 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. increased its stake in shares of Inter Parfums by 36.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 15,155 shares of the company’s stock valued at $433,000 after buying an additional 4,030 shares in the last quarter. 54.37% of the stock is owned by hedge funds and other institutional investors.

Shares of Inter Parfums Inc. (NASDAQ:IPAR) traded down 0.93% on Friday, reaching $33.12. The company’s stock had a trading volume of 105,324 shares. The company’s 50 day moving average is $32.96 and its 200-day moving average is $31.01. The stock has a market cap of $1.03 billion, a PE ratio of 35.23 and a beta of 1.68. Inter Parfums Inc. has a 1-year low of $20.37 and a 1-year high of $35.07.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $117.20 million for the quarter, compared to analyst estimates of $116.16 million. Inter Parfums had a return on equity of 6.27% and a net margin of 6.02%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. On average, equities analysts predict that Inter Parfums Inc. will post $1.09 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 annualized dividend and a yield of 1.81%. Inter Parfums’s dividend payout ratio is presently 63.16%.

Several brokerages recently issued reports on IPAR. B. Riley raised Inter Parfums from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $36.00 in a research note on Tuesday, July 26th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $33.00 price objective (up from $29.00) on shares of Inter Parfums in a research note on Saturday, August 13th. Citigroup Inc. increased their price objective on Inter Parfums from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Zacks Investment Research raised Inter Parfums from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Thursday, July 28th. Finally, TheStreet raised Inter Parfums from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Inter Parfums presently has an average rating of “Buy” and a consensus target price of $36.71.

In other Inter Parfums news, insider Henry B. Clarke sold 5,582 shares of Inter Parfums stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $34.50, for a total transaction of $192,579.00. Following the transaction, the insider now directly owns 2,707 shares in the company, valued at $93,391.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Russell Greenberg sold 2,677 shares of Inter Parfums stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $34.80, for a total value of $93,159.60. Following the transaction, the chief financial officer now owns 677 shares in the company, valued at $23,559.60. The disclosure for this sale can be found here. Company insiders own 45.50% of the company’s stock.

Inter Parfums Company Profile

Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.

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