Interparfums, Inc. (NASDAQ:IPAR) Position Trimmed by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,715 shares of the company's stock after selling 2,319 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of Interparfums worth $2,359,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IPAR. Westwood Holdings Group Inc. purchased a new position in Interparfums during the 4th quarter valued at about $46,649,000. Raymond James Financial Inc. purchased a new position in Interparfums during the 4th quarter valued at about $39,070,000. Norges Bank purchased a new stake in shares of Interparfums during the fourth quarter worth about $32,095,000. Victory Capital Management Inc. lifted its stake in shares of Interparfums by 26.9% during the first 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. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Interparfums by 10.7% during the fourth 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. Hedge funds and other institutional investors own 55.57% of the company's stock.

Interparfums Stock Down 0.8%

Shares of IPAR traded down $0.95 during mid-day trading on Friday, reaching $121.05. 180,822 shares of the stock traded hands, compared to its average volume of 201,078. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 23.55 and a beta of 1.36. The stock has a fifty day simple moving average of $133.80 and a 200 day simple moving average of $127.73. Interparfums, Inc. has a 12-month low of $97.65 and a 12-month high of $148.15. The company has a quick ratio of 1.68, a current ratio of 2.97 and a debt-to-equity ratio of 0.11.

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

Insider Activity

In related news, Director Gilbert Harrison sold 400 shares of Interparfums stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $133.96, for a total value of $53,584.00. Following the completion of the sale, the director owned 1,550 shares in the company, valued at approximately $207,638. The trade was a 20.51% decrease in their ownership of the stock. The sale was disclosed in a filing 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 on Tuesday, May 13th. The stock was sold at an average price of $122.15, for a total transaction of $183,225.00. The disclosure for this sale can be found here. Insiders have sold 2,900 shares of company stock worth $376,039 over the last 90 days. Company insiders own 43.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IPAR. BWS Financial reissued a "buy" rating and issued a $172.00 target price on shares of Interparfums in a research report on Wednesday, May 7th. Piper Sandler reaffirmed an "overweight" rating and set a $138.00 price target (down from $169.00) on shares of Interparfums in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.