CastleKnight Management LP Cuts Stock Holdings in International Flavors & Fragrances Inc. $IFF

CastleKnight Management LP decreased its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 66.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 48,800 shares of the specialty chemicals company’s stock after selling 98,200 shares during the period. CastleKnight Management LP’s holdings in International Flavors & Fragrances were worth $3,289,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Lloyd Advisory Services LLC. purchased a new position in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. boosted its position in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC boosted its position in shares of International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 610 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of International Flavors & Fragrances by 42.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 239 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its position in shares of International Flavors & Fragrances by 69.6% during the fourth quarter. Cromwell Holdings LLC now owns 894 shares of the specialty chemicals company’s stock valued at $61,000 after buying an additional 367 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 2.4%

Shares of NYSE IFF opened at $75.99 on Thursday. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $84.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. The business’s fifty day moving average price is $74.44 and its 200-day moving average price is $72.53. The stock has a market capitalization of $19.40 billion, a PE ratio of 23.24, a P/E/G ratio of 1.81 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.56 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances’s dividend payout ratio is currently 48.93%.

Insider Activity at International Flavors & Fragrances

In other news, Director Paul J. Fribourg purchased 260,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the transaction, the director directly owned 2,682,730 shares of the company’s stock, valued at approximately $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on IFF shares. Berenberg Bank lifted their target price on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft cut their price objective on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Benchmark assumed coverage on International Flavors & Fragrances in a research report on Tuesday, June 9th. They issued a “buy” rating and a $100.00 price objective on the stock. Barclays boosted their price objective on International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and an average target price of $91.05.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.