Capital Research Global Investors Trims Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Capital Research Global Investors reduced its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 39.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,239,826 shares of the specialty chemicals company’s stock after selling 1,459,701 shares during the quarter. Capital Research Global Investors owned about 0.88% of International Flavors & Fragrances worth $192,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of International Flavors & Fragrances by 399.4% during the fourth quarter. SG Americas Securities LLC now owns 17,128 shares of the specialty chemicals company’s stock valued at $1,387,000 after buying an additional 13,698 shares during the last quarter. HB Wealth Management LLC grew its position in International Flavors & Fragrances by 25.7% during the 4th quarter. HB Wealth Management LLC now owns 4,545 shares of the specialty chemicals company’s stock worth $368,000 after purchasing an additional 929 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of International Flavors & Fragrances by 2.1% during the 4th quarter. Pacer Advisors Inc. now owns 28,102 shares of the specialty chemicals company’s stock valued at $2,275,000 after buying an additional 566 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at $560,000. Finally, Schechter Investment Advisors LLC lifted its stake in shares of International Flavors & Fragrances by 11.0% in the 4th quarter. Schechter Investment Advisors LLC now owns 4,141 shares of the specialty chemicals company’s stock valued at $335,000 after purchasing an additional 410 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IFF shares. Wells Fargo & Company lifted their target price on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Morgan Stanley upped their target price on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 3rd. Robert W. Baird increased their price objective on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Citigroup upped their target price on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Oppenheimer began coverage on shares of International Flavors & Fragrances in a research report on Friday, June 7th. They set an “outperform” rating and a $116.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $98.33.

International Flavors & Fragrances Stock Up 1.7 %

Shares of IFF stock traded up $1.68 during mid-day trading on Friday, reaching $98.84. 1,231,311 shares of the company’s stock traded hands, compared to its average volume of 1,009,652. International Flavors & Fragrances Inc. has a 12 month low of $62.11 and a 12 month high of $99.91. The company has a market cap of $25.24 billion, a P/E ratio of -10.12, a P/E/G ratio of 1.91 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $96.45 and its 200-day moving average price is $87.83.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the business posted $0.87 EPS. International Flavors & Fragrances’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts expect that International Flavors & Fragrances Inc. will post 3.98 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.62%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -16.38%.

Insider Activity at International Flavors & Fragrances

In other news, insider Angela Strzelecki sold 2,588 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total transaction of $247,568.08. Following the completion of the transaction, the insider now directly owns 8,539 shares in the company, valued at approximately $816,840.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

About International Flavors & Fragrances

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.