Bank of New York Mellon Corp Reduces Holdings in Interparfums, Inc. (NASDAQ:IPAR)

Bank of New York Mellon Corp lowered its stake in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 3.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 280,403 shares of the company's stock after selling 11,172 shares during the period. Bank of New York Mellon Corp owned approximately 0.87% of Interparfums worth $31,929,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Eukles Asset Management bought a new position in shares of Interparfums in the first quarter worth $30,000. Principal Financial Group Inc. raised its holdings in shares of Interparfums by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 89,580 shares of the company's stock worth $10,200,000 after buying an additional 2,041 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Interparfums in the first quarter valued at about $5,114,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Interparfums in the first quarter valued at about $1,714,000. Finally, Illinois Municipal Retirement Fund raised its stake in Interparfums by 1.6% during the first quarter. Illinois Municipal Retirement Fund now owns 9,623 shares of the company's stock worth $1,096,000 after acquiring an additional 156 shares in the last quarter. Institutional investors own 55.57% of the company's stock.

Interparfums Stock Down 0.5%

Interparfums stock traded down $0.62 during mid-day trading on Thursday, reaching $132.70. The stock had a trading volume of 59,728 shares, compared to its average volume of 190,566. The stock's 50-day simple moving average is $133.11 and its 200-day simple moving average is $127.87. Interparfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.68 and a current ratio of 2.97. The firm has a market capitalization of $4.26 billion, a PE ratio of 25.82 and a beta of 1.36.

Interparfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.19. The business had revenue of $339.00 million during the quarter, compared to analyst estimates of $329.21 million. Interparfums had a return on equity of 17.62% and a net margin of 11.30%. Interparfums's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 EPS. On average, sell-side analysts forecast that Interparfums, Inc. will post 5.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IPAR has been the subject of several analyst reports. BWS Financial reaffirmed a "buy" rating and set a $172.00 target price on shares of Interparfums in a research report on Wednesday, May 7th. DA Davidson restated a "buy" rating and set a $170.00 price objective on shares of Interparfums in a research report on Tuesday, March 25th. Finally, Piper Sandler reissued an "overweight" rating and set a $138.00 target price (down previously from $169.00) on shares of Interparfums in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $162.00.

Insider Transactions at Interparfums

In related news, Director Gilbert Harrison sold 400 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $133.96, for a total transaction of $53,584.00. Following the transaction, the director owned 1,550 shares of the company's stock, valued at approximately $207,638. This trade represents a 20.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Veronique Gabai-Pinsky sold 1,500 shares of Interparfums stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $122.15, for a total value of $183,225.00. The disclosure for this sale can be found here. Insiders sold 2,900 shares of company stock valued at $376,039 over the last three months. Company insiders own 43.90% of the company's stock.

Interparfums 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.