Teachers Retirement System of The State of Kentucky Acquires 7,771 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Teachers Retirement System of The State of Kentucky raised its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 50.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,034 shares of the company’s stock after purchasing an additional 7,771 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.07% of Inter Parfums worth $2,982,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IPAR. CWM LLC increased its position in Inter Parfums by 44.4% during the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after buying an additional 88 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Inter Parfums during the second quarter valued at $1,006,000. Raymond James & Associates increased its holdings in shares of Inter Parfums by 19.9% during the second quarter. Raymond James & Associates now owns 126,189 shares of the company’s stock valued at $14,642,000 after acquiring an additional 20,985 shares in the last quarter. Fifth Third Bancorp boosted its stake in Inter Parfums by 11.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,733 shares of the company’s stock worth $433,000 after purchasing an additional 393 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Inter Parfums by 1.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock worth $1,044,000 after purchasing an additional 100 shares in the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $133.04, for a total value of $532,160.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 43.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IPAR. Piper Sandler lifted their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BWS Financial restated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, November 11th. Finally, DA Davidson reiterated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research note on Tuesday, December 3rd. One research 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, Inter Parfums has an average rating of “Moderate Buy” and a consensus target price of $159.75.

Inter Parfums Stock Down 0.5 %

IPAR opened at $136.84 on Friday. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 29.36 and a beta of 1.20. The firm has a 50 day moving average price of $128.28 and a 200-day moving average price of $124.72. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

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

Inter Parfums 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.