Burney Co. Trims Holdings in Interparfums, Inc. (NASDAQ:IPAR)

Key Points

• Burney Co. reduced its holdings in Interparfums, Inc. by 26.2% in the first quarter, resulting in a total of 7,897 shares valued at $899,000.
• Interparfums reported $1.32 earnings per share for the latest quarter, surpassing estimates, with revenue of $339 million, a 4.6% increase from the previous year.
• The stock has a consensus rating of "Moderate Buy" with an average price target of $162.00, according to recent reports from multiple brokerages.

Burney Co. trimmed its holdings in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 26.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,897 shares of the company's stock after selling 2,800 shares during the quarter. Burney Co.'s holdings in Interparfums were worth $899,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Interparfums by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company's stock valued at $269,677,000 after buying an additional 20,721 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Interparfums by 10.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company's stock valued at $147,913,000 after buying an additional 108,321 shares during the period. Victory Capital Management Inc. increased its stake in Interparfums by 26.9% in the 1st quarter. Victory Capital Management Inc. now owns 715,004 shares of the company's stock valued at $81,418,000 after buying an additional 151,358 shares during the period. Invesco Ltd. increased its stake in Interparfums by 4.1% in the 4th quarter. Invesco Ltd. now owns 362,518 shares of the company's stock valued at $47,675,000 after buying an additional 14,254 shares during the period. Finally, Westwood Holdings Group Inc. acquired a new position in Interparfums in the 4th quarter valued at $46,649,000. 55.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Philippe Santi sold 1,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $139.23, for a total value of $139,230.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gilbert Harrison sold 400 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $133.96, for a total transaction of $53,584.00. Following the completion of the sale, the director owned 1,550 shares in the company, valued at $207,638. This represents a 20.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,900 shares of company stock worth $376,039 in the last three months. Corporate insiders own 43.90% of the company's stock.

Interparfums Price Performance

Shares of NASDAQ IPAR traded up $2.55 during trading on Monday, hitting $123.60. 35,097 shares of the company were exchanged, compared to its average volume of 233,428. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 24.00 and a beta of 1.36. Interparfums, Inc. has a 1 year low of $97.65 and a 1 year high of $148.15. The firm's fifty day moving average price is $133.80 and its 200 day moving average price is $127.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.97 and a quick ratio of 1.68.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler reissued an "overweight" rating and issued a $138.00 price objective (down from $169.00) on shares of Interparfums in a research note on Thursday, April 24th. BWS Financial restated a "buy" rating and set a $172.00 target price on shares of Interparfums in a research report on Wednesday, May 7th. One 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

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.