State Board of Administration of Florida Retirement System Sells 15,357 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

State Board of Administration of Florida Retirement System reduced its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 260,308 shares of the specialty chemicals company’s stock after selling 15,357 shares during the period. State Board of Administration of Florida Retirement System owned 0.10% of International Flavors & Fragrances worth $23,938,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Van ECK Associates Corp grew its position in shares of International Flavors & Fragrances by 7.8% during the 1st quarter. Van ECK Associates Corp now owns 4,778,678 shares of the specialty chemicals company’s stock worth $410,919,000 after buying an additional 344,377 shares during the period. First Pacific Advisors LP increased its stake in International Flavors & Fragrances by 2.2% in the fourth quarter. First Pacific Advisors LP now owns 3,980,310 shares of the specialty chemicals company’s stock valued at $322,286,000 after purchasing an additional 87,183 shares in the last quarter. Capital International Investors boosted its position in shares of International Flavors & Fragrances by 1.4% during the fourth quarter. Capital International Investors now owns 2,375,699 shares of the specialty chemicals company’s stock worth $192,360,000 after purchasing an additional 33,548 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of International Flavors & Fragrances by 19.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,733,402 shares of the specialty chemicals company’s stock valued at $140,355,000 after buying an additional 280,069 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of International Flavors & Fragrances by 3.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,455,140 shares of the specialty chemicals company’s stock valued at $117,823,000 after buying an additional 52,584 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Angela Strzelecki sold 2,588 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $95.66, for a total value of $247,568.08. Following the transaction, the insider now directly owns 8,539 shares of the company’s stock, valued at $816,840.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Up 0.1 %

Shares of International Flavors & Fragrances stock traded up $0.11 on Thursday, reaching $96.87. 476,530 shares of the company were exchanged, compared to its average volume of 1,886,011. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of -9.90, a PEG ratio of 1.94 and a beta of 1.26. International Flavors & Fragrances Inc. has a one year low of $62.11 and a one year high of $99.91. The company has a 50-day moving average of $96.41 and a 200 day moving average of $87.04. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.27. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.78 billion. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. On average, equities research analysts forecast that International Flavors & Fragrances Inc. will post 3.97 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st were given a $0.40 dividend. The ex-dividend date was Friday, June 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. International Flavors & Fragrances’s payout ratio is -16.38%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group boosted their target price on International Flavors & Fragrances from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Stifel Nicolaus increased their target price on International Flavors & Fragrances from $87.00 to $95.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Mizuho lifted their price target on shares of International Flavors & Fragrances from $91.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Bank of America increased their price objective on shares of International Flavors & Fragrances from $87.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Finally, Robert W. Baird boosted their price objective on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.22.

International Flavors & Fragrances 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.