KBC Group NV Decreases Position in Inter Parfums, Inc. (NASDAQ:IPAR)

KBC Group NV lowered its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 79.8% during the fourth quarter, Holdings Channel reports. The fund owned 871 shares of the company’s stock after selling 3,442 shares during the period. KBC Group NV’s holdings in Inter Parfums were worth $115,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IPAR. Victory Capital Management Inc. increased 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 worth $47,075,000 after purchasing an additional 356,949 shares during the period. Wellington Management Group LLP grew its position in shares of Inter Parfums by 44.2% during the third quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after buying an additional 99,316 shares in the last quarter. Annex Advisory Services LLC increased its stake in shares of Inter Parfums by 36.5% during the fourth quarter. Annex Advisory Services LLC now owns 118,390 shares of the company’s stock worth $15,569,000 after buying an additional 31,654 shares during the period. Barclays PLC raised its holdings in Inter Parfums by 293.0% in the third quarter. Barclays PLC now owns 34,689 shares of the company’s stock valued at $4,492,000 after acquiring an additional 25,862 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Inter Parfums in the third quarter valued at approximately $3,111,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on IPAR shares. Canaccord Genuity Group started coverage on shares of Inter Parfums in a research report on Thursday, January 16th. They issued a “buy” rating and a $158.00 price objective on the stock. Piper Sandler increased their target price on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a report on Thursday, January 23rd. Finally, BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, January 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.40.

Insiders Place Their Bets

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this hyperlink. 43.90% of the stock is currently owned by corporate insiders.

Inter Parfums Price Performance

Shares of IPAR opened at $135.83 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $156.75. The stock has a market cap of $4.35 billion, a PE ratio of 29.15 and a beta of 1.20. The firm has a fifty day moving average price of $135.55 and a 200 day moving average price of $129.38.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. The business had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 EPS. As a group, sell-side analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS 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.