Allspring Global Investments Holdings LLC lowered its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,449 shares of the specialty chemicals company’s stock after selling 223 shares during the period. Allspring Global Investments Holdings LLC’s holdings in International Flavors & Fragrances were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the company. Cohen Capital Management Inc. acquired a new stake in International Flavors & Fragrances during the fourth quarter worth approximately $226,000. Bayesian Capital Management LP acquired a new position in International Flavors & Fragrances in the 4th quarter worth about $9,316,000. Clearfield Capital Management LP acquired a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at about $28,771,000. Price T Rowe Associates Inc. MD increased its stake in shares of International Flavors & Fragrances by 19.3% in the fourth 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, Nomura Asset Management Co. Ltd. increased its stake in shares of International Flavors & Fragrances by 3.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 68,751 shares of the specialty chemicals company’s stock valued at $5,567,000 after buying an additional 2,514 shares during the period. Institutional investors own 96.02% of the company’s stock.
Wall Street Analyst Weigh In
IFF has been the subject of several recent research reports. Stifel Nicolaus increased their price target on International Flavors & Fragrances from $87.00 to $95.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Robert W. Baird increased their price target on International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Citigroup raised their target price on International Flavors & Fragrances from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. StockNews.com raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Finally, Wells Fargo & Company raised their target price on International Flavors & Fragrances from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.78.
Read Our Latest Analysis on International Flavors & Fragrances
Insider Activity
In other news, insider Angela Strzelecki sold 2,588 shares of International Flavors & Fragrances stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total value of $247,568.08. Following the completion of the transaction, the insider now directly owns 8,539 shares in the company, valued at $816,840.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
International Flavors & Fragrances Stock Performance
NYSE:IFF opened at $95.29 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 1.05. The business has a fifty day simple moving average of $95.02 and a two-hundred day simple moving average of $86.09. International Flavors & Fragrances Inc. has a 1 year low of $62.11 and a 1 year high of $99.91. The company has a market capitalization of $24.33 billion, a P/E ratio of -9.75, a P/E/G ratio of 1.88 and a beta of 1.26.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last released its 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 positive return on equity of 5.78% and a negative net margin of 22.01%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts expect that International Flavors & Fragrances Inc. will post 3.97 earnings per share for the current year.
International Flavors & Fragrances Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -16.38%.
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.
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