Fmr LLC Reduces Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Fmr LLC trimmed its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 45.2% during the third quarter, HoldingsChannel reports. The firm owned 502,924 shares of the specialty chemicals company’s stock after selling 414,151 shares during the period. Fmr LLC’s holdings in International Flavors & Fragrances were worth $52,772,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of International Flavors & Fragrances in the third quarter valued at approximately $27,000. Family Firm Inc. acquired a new stake in shares of International Flavors & Fragrances in the 2nd quarter worth $38,000. Oakworth Capital Inc. purchased a new position in shares of International Flavors & Fragrances during the 3rd quarter worth $44,000. Eastern Bank acquired a new position in shares of International Flavors & Fragrances during the 3rd quarter valued at about $46,000. Finally, MCF Advisors LLC grew its holdings in shares of International Flavors & Fragrances by 1,856.0% in the second quarter. MCF Advisors LLC now owns 489 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 464 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IFF shares. Barclays lifted their target price on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Vertical Research raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research report on Thursday, November 7th. Bank of America upgraded International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Oppenheimer increased their price target on International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and an average price target of $111.00.

International Flavors & Fragrances Trading Down 0.1 %

NYSE IFF opened at $88.92 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.93 and a current ratio of 2.62. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of -9.78, a PEG ratio of 1.58 and a beta of 1.17. The firm has a 50 day simple moving average of $96.62 and a 200-day simple moving average of $97.86. International Flavors & Fragrances Inc. has a one year low of $72.94 and a one year high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.46). International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the prior year, the business earned $0.89 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, December 20th. International Flavors & Fragrances’s dividend payout ratio is currently -17.60%.

Insider Activity

In related news, insider Yuvraj Arora sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $91.75, for a total transaction of $458,750.00. Following the completion of the transaction, the insider now owns 3,238 shares in the company, valued at approximately $297,086.50. The trade was a 60.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.