International Flavors & Fragrances Inc. $IFF Stake Reduced by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 58.2% in the first quarter, Holdings Channel.com reports. The fund owned 6,730 shares of the specialty chemicals company’s stock after selling 9,354 shares during the period. Kentucky Retirement Systems’ holdings in International Flavors & Fragrances were worth $488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lloyd Advisory Services LLC. acquired a new stake in International Flavors & Fragrances during the fourth quarter valued at approximately $27,000. Root Financial Partners LLC boosted its holdings in International Flavors & Fragrances by 97.9% during the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 274 shares in the last quarter. Geneos Wealth Management Inc. grew its position in International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC grew its position in International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after buying an additional 610 shares during the last quarter. Finally, Cromwell Holdings LLC increased its holdings in shares of International Flavors & Fragrances by 69.6% in 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 in the last quarter. 96.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IFF shares. Rothschild & Co Redburn reduced their price objective on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Citigroup reduced their target price on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. BNP Paribas Exane increased their price target on International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Finally, Morgan Stanley lifted their price target on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.16.

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Paul J. Fribourg acquired 260,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the purchase, the director owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Trading Down 0.2%

International Flavors & Fragrances stock opened at $79.29 on Friday. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49. The firm has a market capitalization of $20.24 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.99 and a beta of 0.93. The company has a 50 day moving average price of $77.02 and a 200 day moving average price of $74.99.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. Research analysts forecast that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s payout ratio is presently 48.93%.

International Flavors & Fragrances 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.