Principal Financial Group Inc. Sells 8,626 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Principal Financial Group Inc. decreased its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 9.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.27% of Inter Parfums worth $11,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Trust Inc. lifted its position in Inter Parfums by 83.4% during 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. purchased a new stake in shares of Inter Parfums during the 3rd quarter valued at $104,000. Crossmark Global Holdings Inc. bought a new stake in shares of Inter Parfums during the 3rd quarter worth $209,000. Orion Portfolio Solutions LLC purchased a new position in Inter Parfums in the third quarter worth $233,000. Finally, Choreo LLC bought a new position in Inter Parfums in the second quarter valued at $213,000. Hedge funds and other institutional investors own 55.57% of the company's stock.

Analysts Set New Price Targets

IPAR has been the subject of several research analyst reports. DA Davidson reaffirmed a "buy" rating and set a $163.00 price target on shares of Inter Parfums in a research note on Wednesday, December 18th. BWS Financial restated a "buy" rating and issued a $172.00 target price 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $159.75.

Insider Buying and Selling at Inter Parfums

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 43.90% of the stock is currently owned by corporate insiders.

Inter Parfums Trading Down 0.4 %

Shares of IPAR traded down $0.46 during trading hours on Monday, hitting $130.60. The company had a trading volume of 125,551 shares, compared to its average volume of 143,940. Inter Parfums, Inc. has a 52-week low of $108.39 and a 52-week 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 stock's 50 day moving average price is $130.50 and its 200 day moving average price is $125.80. The firm has a market cap of $4.18 billion, a P/E ratio of 28.03 and a beta of 1.20.

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