Principal Financial Group Inc. Has $11.01 Million Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Principal Financial Group Inc. trimmed its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,991 shares of the company’s stock after selling 8,626 shares during the quarter. Principal Financial Group Inc. owned approximately 0.27% of Inter Parfums worth $11,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. WCM Investment Management LLC grew its stake in shares of Inter Parfums by 2.9% in the third quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock worth $24,835,000 after purchasing an additional 5,482 shares during the last quarter. Algert Global LLC raised its position in shares of Inter Parfums by 18.6% during the second quarter. Algert Global LLC now owns 70,564 shares of the company’s stock worth $8,188,000 after acquiring an additional 11,089 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Inter Parfums by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock worth $85,384,000 after acquiring an additional 4,862 shares during the period. Geode Capital Management LLC boosted its holdings in Inter Parfums by 1.2% in the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after acquiring an additional 5,056 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in Inter Parfums by 50.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock valued at $2,982,000 after purchasing an additional 7,771 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. DA Davidson restated a “buy” rating and issued a $163.00 target price on shares of Inter Parfums in a report on Wednesday, December 18th. BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Monday, November 11th. Finally, Piper Sandler increased their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $159.75.

Inter Parfums Stock Performance

IPAR opened at $131.06 on Monday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 28.12 and a beta of 1.20. The company’s fifty day moving average price is $130.27 and its two-hundred day moving average price is $125.68. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $156.75. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14.

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

Insiders Place Their Bets

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 43.90% of the company’s stock.

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.