Wellington Management Group LLP Cuts Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Wellington Management Group LLP decreased its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent filing 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 quarter. Wellington Management Group LLP owned approximately 0.79% of Inter Parfums worth $33,357,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC grew its position in shares of Inter Parfums by 80.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,815 shares of the company's stock worth $633,000 after buying an additional 2,140 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in Inter Parfums by 1.9% in the fourth quarter. Level Four Advisory Services LLC now owns 8,101 shares of the company's stock worth $1,065,000 after acquiring an additional 154 shares during the last quarter. Norges Bank acquired a new position in Inter Parfums during the 4th quarter worth approximately $32,095,000. JPMorgan Chase & Co. increased its position in shares of Inter Parfums by 32.4% in the 4th quarter. JPMorgan Chase & Co. now owns 133,816 shares of the company's stock valued at $17,598,000 after purchasing an additional 32,741 shares during the last quarter. Finally, Pier Capital LLC increased its position in shares of Inter Parfums by 36.6% in the 4th quarter. Pier Capital LLC now owns 63,238 shares of the company's stock valued at $8,316,000 after purchasing an additional 16,942 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company's stock.

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Wall Street Analyst Weigh In

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

Inter Parfums Stock Performance

Shares of Inter Parfums stock traded up $1.63 on Friday, hitting $106.10. The stock had a trading volume of 201,725 shares, compared to its average volume of 172,956. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 22.77 and a beta of 1.15. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 52-week low of $97.65 and a 52-week high of $148.15. The company's 50 day moving average price is $125.84 and its 200 day moving average price is $128.91.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $361.50 million during the quarter, compared to analysts' expectations of $361.56 million. On average, research analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.02%. This is a boost from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. Inter Parfums's dividend payout ratio (DPR) is presently 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.