Franklin Resources Inc. Sells 6,948 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Franklin Resources Inc. cut its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 23.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,611 shares of the company’s stock after selling 6,948 shares during the period. Franklin Resources Inc.’s holdings in Inter Parfums were worth $2,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IPAR. Commonwealth Equity Services LLC lifted its position in Inter Parfums by 2.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company’s stock valued at $390,000 after acquiring an additional 92 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Inter Parfums by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock valued at $1,044,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System grew its holdings in Inter Parfums by 2.0% during the second quarter. Arizona State Retirement System now owns 5,378 shares of the company’s stock worth $624,000 after buying an additional 105 shares in the last quarter. Inspire Investing LLC raised its position in Inter Parfums by 3.9% in the 3rd quarter. Inspire Investing LLC now owns 3,208 shares of the company’s stock valued at $415,000 after buying an additional 120 shares during the last quarter. Finally, KBC Group NV raised its position in Inter Parfums by 3.0% in the 3rd quarter. KBC Group NV now owns 4,313 shares of the company’s stock valued at $558,000 after buying an additional 126 shares during the last quarter. 55.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IPAR. Piper Sandler upped their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a research report on Wednesday, December 18th. Finally, BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $131.86 on Thursday. The company has a market capitalization of $4.22 billion, a P/E ratio of 28.30 and a beta of 1.20. The company’s 50-day moving average is $129.54 and its 200 day moving average is $125.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $156.75.

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

Insider Activity at Inter Parfums

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 43.90% of the stock is owned by company insiders.

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.