Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other large investors have also modified their holdings of the company. CWM LLC grew its position in shares of Inter Parfums by 44.4% in the second quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after purchasing an additional 88 shares during the last quarter. Blue Trust Inc. grew its position in shares of 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. Mendota Financial Group LLC acquired a new stake in shares of Inter Parfums in the second quarter valued at approximately $89,000. Choreo LLC acquired a new stake in shares of Inter Parfums in the second quarter valued at approximately $213,000. Finally, Berry Wealth Group LP grew its position in shares of Inter Parfums by 7.4% in the second quarter. Berry Wealth Group LP now owns 1,850 shares of the company’s stock valued at $215,000 after purchasing an additional 128 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Inter Parfums Stock Performance

NASDAQ:IPAR opened at $124.65 on Monday. 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 company has a market cap of $3.99 billion, a P/E ratio of 26.75 and a beta of 1.16. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $156.75. The firm’s 50 day moving average is $122.71 and its two-hundred day moving average is $122.67.

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

Analysts Set New Price Targets

IPAR has been the topic of several research reports. DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. BWS Financial restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, November 11th. Finally, Piper Sandler decreased their target price on shares of Inter Parfums from $158.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.50.

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.