JPMorgan Chase & Co. Sells 30,604 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

JPMorgan Chase & Co. cut its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 23.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,075 shares of the company’s stock after selling 30,604 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Inter Parfums worth $13,087,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IPAR. Blue Trust Inc. raised its position in 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 during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Inter Parfums in the third quarter valued at approximately $104,000. Crossmark Global Holdings Inc. bought a new position in Inter Parfums in the 3rd quarter valued at approximately $209,000. Orion Portfolio Solutions LLC acquired a new stake in Inter Parfums during the 3rd quarter worth approximately $233,000. Finally, Choreo LLC acquired a new stake in Inter Parfums during the 2nd quarter worth approximately $213,000. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Price Performance

Shares of NASDAQ IPAR opened at $128.86 on Friday. The company has a market capitalization of $4.13 billion, a PE ratio of 27.65 and a beta of 1.20. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The firm has a fifty day simple moving average of $131.99 and a 200 day simple moving average of $126.83.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IPAR. BWS Financial reaffirmed a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research note on Monday, November 11th. DA Davidson reaffirmed a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research report on Wednesday, December 18th. Finally, Piper Sandler upped 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Inter Parfums presently has an average rating of “Moderate Buy” and an average target price of $159.75.

Insider Activity

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 shares were sold at an average price of $133.04, for a total transaction of $532,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 43.90% of the stock is currently owned by company insiders.

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.