International Flavors & Fragrances Inc. (NYSE:IFF) Stake Reduced by Sarasin & Partners LLP
Sarasin & Partners LLP cut its holdings in International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 98.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the specialty chemicals company’s stock after selling 2,788,745 shares during the quarter. Sarasin & Partners LLP’s holdings in International Flavors & Fragrances were worth $2,386,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IFF. Price T Rowe Associates Inc. MD raised its position in International Flavors & Fragrances by 59.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,772,700 shares of the specialty chemicals company’s stock worth $814,890,000 after acquiring an additional 2,890,737 shares in the last quarter. State Street Corp grew its stake in International Flavors & Fragrances by 26.9% during the 1st quarter. State Street Corp now owns 13,374,991 shares of the specialty chemicals company’s stock valued at $1,240,654,000 after acquiring an additional 2,835,689 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in International Flavors & Fragrances by 98,160.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,184,039 shares of the specialty chemicals company’s stock valued at $94,238,000 after acquiring an additional 1,182,834 shares in the last quarter. Norges Bank purchased a new position in International Flavors & Fragrances during the 4th quarter valued at about $108,968,000. Finally, Van ECK Associates Corp grew its stake in International Flavors & Fragrances by 42.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,930,479 shares of the specialty chemicals company’s stock valued at $233,237,000 after acquiring an additional 870,797 shares in the last quarter. 89.52% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
IFF has been the subject of a number of recent research reports. StockNews.com upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, November 28th. Wells Fargo & Company upped their price target on International Flavors & Fragrances from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, November 8th. Stifel Nicolaus increased their target price on International Flavors & Fragrances from $77.00 to $87.00 and gave the stock a “hold” rating in a report on Tuesday, November 7th. Finally, UBS Group cut International Flavors & Fragrances from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $88.00 to $78.00 in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.19.
Read Our Latest Stock Analysis on International Flavors & Fragrances
International Flavors & Fragrances Stock Performance
NYSE:IFF traded up $3.14 during mid-day trading on Thursday, hitting $81.87. 158,296 shares of the stock were exchanged, compared to its average volume of 2,105,393. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 437.22, a price-to-earnings-growth ratio of 6.00 and a beta of 1.16. The firm’s 50-day simple moving average is $70.98 and its 200 day simple moving average is $73.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.74. International Flavors & Fragrances Inc. has a fifty-two week low of $62.11 and a fifty-two week high of $118.34.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last announced its quarterly earnings data on Monday, November 6th. The specialty chemicals company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.14. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.76 billion. International Flavors & Fragrances had a return on equity of 5.22% and a net margin of 0.40%. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. As a group, equities analysts anticipate that International Flavors & Fragrances Inc. will post 3.34 EPS for the current fiscal year.
International Flavors & Fragrances Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Thursday, December 28th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $3.24 dividend on an annualized basis and a yield of 3.96%. International Flavors & Fragrances’s dividend payout ratio is currently 1,800.00%.
About International Flavors & Fragrances (Free Report)
International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.
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