Principal Financial Group Inc. Increases Stock Position in Interparfums, Inc. (NASDAQ:IPAR)

Principal Financial Group Inc. lifted its position in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,580 shares of the company's stock after acquiring an additional 2,041 shares during the quarter. Principal Financial Group Inc. owned 0.28% of Interparfums worth $10,200,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in shares of Interparfums in the 1st quarter worth approximately $5,114,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Interparfums in the 1st quarter worth approximately $1,714,000. Illinois Municipal Retirement Fund grew its position in shares of Interparfums by 1.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 9,623 shares of the company's stock worth $1,096,000 after buying an additional 156 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Interparfums by 26.2% in the 1st quarter. Bessemer Group Inc. now owns 179,355 shares of the company's stock worth $20,423,000 after buying an additional 37,184 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Interparfums by 52.0% in the 1st quarter. Blue Trust Inc. now owns 506 shares of the company's stock worth $58,000 after buying an additional 173 shares during the last quarter. Institutional investors own 55.57% of the company's stock.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $122.15, for a total value of $183,225.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Philippe Santi sold 1,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $139.23, for a total transaction of $139,230.00. The disclosure for this sale can be found here. Insiders have sold 2,900 shares of company stock valued at $376,039 in the last ninety days. Insiders own 43.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IPAR shares. Piper Sandler reaffirmed an "overweight" rating and issued a $138.00 price objective (down previously from $169.00) on shares of Interparfums in a research report on Thursday, April 24th. DA Davidson reaffirmed a "buy" rating and issued a $170.00 price objective on shares of Interparfums in a research report on Tuesday, March 25th. Finally, BWS Financial reissued 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Interparfums Stock Performance

NASDAQ:IPAR traded up $2.03 during trading hours on Wednesday, hitting $133.31. 156,154 shares of the company were exchanged, compared to its average volume of 191,072. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 25.94 and a beta of 1.36. Interparfums, Inc. has a 52-week low of $97.65 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.97 and a quick ratio of 1.68. The company's 50 day moving average price is $133.11 and its 200-day moving average price is $127.87.

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

About Interparfums

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.