Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 21.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,646 shares of the company’s stock after selling 70,217 shares during the period. Wellington Management Group LLP owned approximately 0.79% of Inter Parfums worth $33,357,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Inter Parfums by 1.2% in the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after buying an additional 5,056 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Inter Parfums by 50.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock worth $2,982,000 after acquiring an additional 7,771 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Inter Parfums by 36.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,108 shares of the company’s stock valued at $540,000 after acquiring an additional 1,095 shares during the last quarter. Annex Advisory Services LLC boosted its position in shares of Inter Parfums by 36.5% during the 4th quarter. Annex Advisory Services LLC now owns 118,390 shares of the company’s stock valued at $15,569,000 after purchasing an additional 31,654 shares in the last quarter. Finally, Monument Capital Management acquired a new position in shares of Inter Parfums in the 4th quarter worth approximately $362,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on IPAR shares. BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Monday, March 17th. Canaccord Genuity Group raised their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, DA Davidson reaffirmed a “buy” rating and set a $170.00 target price on shares of Inter Parfums in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $162.80.

Inter Parfums Price Performance

NASDAQ IPAR opened at $104.12 on Monday. The company has a 50 day simple moving average of $130.32 and a 200-day simple moving average of $129.73. Inter Parfums, Inc. has a 52-week low of $100.92 and a 52-week high of $148.15. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 22.34 and a beta of 1.15. 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 (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). The firm had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Equities research analysts predict that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio (DPR) is currently 62.87%.

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.