International Flavors & Fragrances Inc (IFF) Shares Sold by Front Barnett Associates LLC

Front Barnett Associates LLC trimmed its holdings in International Flavors & Fragrances Inc (NYSE:IFF) by 1.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 119,911 shares of the specialty chemicals company’s stock after selling 2,171 shares during the period. International Flavors & Fragrances comprises about 2.5% of Front Barnett Associates LLC’s portfolio, making the stock its 11th largest holding. Front Barnett Associates LLC’s holdings in International Flavors & Fragrances were worth $15,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Winder Investment Pte Ltd increased its holdings in International Flavors & Fragrances by 9.3% in the 4th quarter. Winder Investment Pte Ltd now owns 19,536,858 shares of the specialty chemicals company’s stock worth $2,623,214,000 after buying an additional 1,664,698 shares in the last quarter. Vanguard Group Inc increased its holdings in International Flavors & Fragrances by 13.7% in the 3rd quarter. Vanguard Group Inc now owns 10,298,969 shares of the specialty chemicals company’s stock worth $1,432,792,000 after buying an additional 1,239,892 shares in the last quarter. BlackRock Inc. grew its stake in shares of International Flavors & Fragrances by 14.5% during the 4th quarter. BlackRock Inc. now owns 6,794,818 shares of the specialty chemicals company’s stock valued at $912,341,000 after purchasing an additional 858,430 shares during the period. FMR LLC grew its stake in shares of International Flavors & Fragrances by 32.4% during the 4th quarter. FMR LLC now owns 3,032,597 shares of the specialty chemicals company’s stock valued at $406,944,000 after purchasing an additional 741,633 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its stake in shares of International Flavors & Fragrances by 28.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,262,638 shares of the specialty chemicals company’s stock valued at $303,803,000 after purchasing an additional 504,827 shares during the period. Institutional investors own 83.63% of the company’s stock.

A number of research firms have issued reports on IFF. Zacks Investment Research upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Barclays restated a “sell” rating on shares of International Flavors & Fragrances in a research note on Monday, February 18th. KeyCorp cut their price target on International Flavors & Fragrances from $160.00 to $143.00 and set an “overweight” rating for the company in a research note on Monday, February 25th. Citigroup cut their price target on International Flavors & Fragrances from $146.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, February 21st. Finally, Seaport Global Securities began coverage on International Flavors & Fragrances in a research note on Thursday, February 21st. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. International Flavors & Fragrances currently has a consensus rating of “Hold” and an average target price of $148.25.

International Flavors & Fragrances stock opened at $136.67 on Friday. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 22.82 and a beta of 0.77. International Flavors & Fragrances Inc has a 52-week low of $121.85 and a 52-week high of $150.57. The company has a quick ratio of 1.58, a current ratio of 2.56 and a debt-to-equity ratio of 0.72.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.05. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. International Flavors & Fragrances had a return on equity of 12.74% and a net margin of 7.29%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.79 EPS. On average, sell-side analysts expect that International Flavors & Fragrances Inc will post 6.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 24th will be paid a dividend of $0.73 per share. The ex-dividend date is Friday, June 21st. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.14%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 46.50%.

In related news, insider Nicolas Mirzayantz sold 3,472 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $136.73, for a total transaction of $474,726.56. Following the completion of the transaction, the insider now directly owns 45,858 shares in the company, valued at approximately $6,270,164.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Winder Investment Pte Ltd acquired 29,642 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were bought at an average price of $128.74 per share, with a total value of $3,816,111.08. Following the completion of the purchase, the insider now owns 20,300,000 shares in the company, valued at approximately $2,613,422,000. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.

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International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

Further Reading: Stop Order Uses For Individual Investors

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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