JPMorgan Chase & Co. Trims Position in Inter Parfums, Inc. (NASDAQ:IPAR)

JPMorgan Chase & Co. decreased its holdings in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 23.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,075 shares of the company's stock after selling 30,604 shares during the quarter. JPMorgan Chase & Co. owned 0.32% of Inter Parfums worth $13,087,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. WCM Investment Management LLC grew its holdings in Inter Parfums by 2.9% during the 3rd quarter. WCM Investment Management LLC now owns 193,660 shares of the company's stock worth $24,835,000 after acquiring an additional 5,482 shares during the last quarter. Algert Global LLC boosted its stake in shares of Inter Parfums by 18.6% in the 2nd quarter. Algert Global LLC now owns 70,564 shares of the company's stock valued at $8,188,000 after purchasing an additional 11,089 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Inter Parfums by 50.9% in 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 last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Inter Parfums by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company's stock valued at $85,384,000 after purchasing an additional 4,862 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Inter Parfums by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company's stock valued at $56,481,000 after purchasing an additional 5,056 shares during the last quarter. Institutional investors own 55.57% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Inter Parfums

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of the 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 43.90% of the company's stock.

Inter Parfums Stock Down 2.1 %

Shares of NASDAQ:IPAR traded down $2.81 during midday trading on Friday, hitting $128.86. The stock had a trading volume of 118,845 shares, compared to its average volume of 117,174. Inter Parfums, Inc. has a 12 month low of $108.39 and a 12 month high of $156.75. 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 business's 50-day simple moving average is $131.99 and its 200-day simple moving average is $126.83. The company has a market cap of $4.13 billion, a P/E ratio of 27.65 and a beta of 1.20.

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

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.