Franklin Resources Inc. Has $2.76 Million Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Franklin Resources Inc. cut its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 23.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,611 shares of the company’s stock after selling 6,948 shares during the period. Franklin Resources Inc. owned 0.07% of Inter Parfums worth $2,757,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Inter Parfums by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock worth $85,384,000 after purchasing an additional 4,862 shares during the period. State Street Corp boosted its stake in shares of Inter Parfums by 0.3% during the 3rd quarter. State Street Corp now owns 676,253 shares of the company’s stock worth $87,561,000 after acquiring an additional 2,255 shares during the period. Royce & Associates LP increased its holdings in shares of Inter Parfums by 0.7% during the 3rd quarter. Royce & Associates LP now owns 595,175 shares of the company’s stock worth $77,063,000 after acquiring an additional 4,345 shares during the last quarter. Geode Capital Management LLC raised its stake in Inter Parfums by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after acquiring an additional 5,056 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Inter Parfums by 5,393.6% during the 3rd quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock valued at $47,075,000 after purchasing an additional 356,949 shares during the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Price Performance

Shares of Inter Parfums stock opened at $131.86 on Thursday. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 28.30 and a beta of 1.20. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a 50-day simple moving average of $129.54 and a two-hundred day simple moving average of $125.31.

Inter Parfums (NASDAQ:IPAR) last released its quarterly 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. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. During the same period in the previous year, the business earned $1.66 earnings per share. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Analysts forecast that Inter Parfums, Inc. will post 5.15 EPS for the current year.

Insider Buying and Selling

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction that occurred on 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 SEC, which is available at this hyperlink. 43.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.