Wellington Management Group LLP Sells 70,217 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Wellington Management Group LLP reduced its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,646 shares of the company's stock after selling 70,217 shares during the period. Wellington Management Group LLP owned about 0.79% of Inter Parfums worth $33,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of IPAR. Coppell Advisory Solutions LLC boosted its holdings in shares of Inter Parfums by 210.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company's stock valued at $67,000 after buying an additional 347 shares during the period. SRH Advisors LLC lifted its position in Inter Parfums by 791.7% in the 4th quarter. SRH Advisors LLC now owns 535 shares of the company's stock valued at $70,000 after purchasing an additional 475 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Inter Parfums by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 800 shares of the company's stock valued at $105,000 after purchasing an additional 400 shares during the last quarter. Blue Trust Inc. raised its position in shares of Inter Parfums by 25.7% during the 4th quarter. Blue Trust Inc. now owns 818 shares of the company's stock worth $106,000 after buying an additional 167 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Inter Parfums by 23.8% during the 4th quarter. Lazard Asset Management LLC now owns 1,263 shares of the company's stock worth $166,000 after buying an additional 243 shares in the last quarter. 55.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IPAR. BWS Financial reaffirmed a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, May 7th. Canaccord Genuity Group lifted their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Piper Sandler reissued an "overweight" rating and issued a $138.00 target price (down from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. Finally, DA Davidson reissued a "buy" rating and issued a $170.00 target price on shares of Inter Parfums in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and five have assigned 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 price target of $157.60.

Inter Parfums Stock Up 0.3%

IPAR traded up $0.44 on Tuesday, reaching $136.76. 164,671 shares of the company traded hands, compared to its average volume of 248,096. The stock's 50 day moving average price is $115.87 and its 200-day moving average price is $127.45. Inter Parfums, Inc. has a 52-week low of $97.65 and a 52-week high of $148.15. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 29.35 and a beta of 1.33. 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 - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.19. The firm had revenue of $339.00 million during the quarter, compared to analysts' expectations of $329.21 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company's revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 earnings per share. On average, sell-side analysts expect that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Insider Transactions at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $122.15, for a total value of $183,225.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 43.90% of the stock is owned by corporate insiders.

About Inter Parfums

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.