Allspring Global Investments Holdings LLC reduced its holdings in International Flavors and Fragrances Inc. (NYSE:IFF – free report ) by 1.4% during the first quarter, according to its latest filing with the Securities and Exchange Commission. The firm sold 223 shares during the period, leaving it holding 15,449 shares of the specialty chemicals company’s stock. Allspring Global Investments Holdings LLC’s holdings of International Flavors and Fragrances stock were valued at $1,328,000 as of the latest filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings in the company. Cohen Capital Management LLC acquired a new stake in International Flavors & Fragrances Co. in the fourth quarter valued at approximately $226,000. Bayesian Capital Management LLC acquired a new stake in International Flavors & Fragrances Co. in the fourth quarter valued at approximately $9,316,000. Clearfield Capital Management LLC acquired a new stake in International Flavors & Fragrances Co. in the fourth quarter valued at approximately $28,771,000. Price T. Rowe Associates LLC increased its stake in International Flavors & Fragrances Co. by 19.3% in the fourth quarter. Price T. Rowe Associates Inc. now holds 1,733,402 shares of the specialty chemicals company’s stock, valued at $140,355,000, after purchasing an additional 280,069 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in International Flavors & Fragrances by 3.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now holds 68,751 shares of the specialty chemicals company’s stock, valued at $5,567,000, after purchasing an additional 2,514 shares during the period. Institutional investors hold 96.02% of the company’s shares.
What Wall Street analysts are saying
IFF has been the subject of several research reports recently. 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 increased their price target on International Flavors & Fragrances from $100.00 to $108.00 and gave the company 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 boosted their price target on International Flavors and Fragrances from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8. One investment analyst has rated the stock with a sell rating, eleven have rated it with a hold rating, and eight have rated it with a buy rating. According to MarketBeat data, the stock currently has an average rating of “hold” and a consensus target price of $95.78.
Read the latest analysis on global flavors and fragrances
Insider Activities
In other news, insider Angela Strecki sold 2,588 shares of International Flavors & Fragrances stock in a transaction on Thursday, June 13th. The shares were 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 of the company’s stock, valued at $816,840.74. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. 0.09% of the shares are owned by the company’s insider.
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 company’s 50-day simple moving average is $95.02 and its 200-day simple moving average is $86.09. International Flavors & Fragrances Inc.’s one-year low is $62.11 and its one-year high is $99.91. The company has a market cap of $24.33 billion, a P/E ratio of -9.75, a P/G ratio of 1.88 and a beta of 1.26.
International Flavors and 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, beating analysts’ consensus estimates of $0.86 by $0.27. International Flavors and Fragrances had a positive return on equity of 5.78% and a negative net margin of 22.01%. Revenues for the business were $2.90 billion for the quarter, beating the consensus estimate of $2.78 billion. During the same period last year, the business posted earnings of $0.87 per share. Quarterly revenues for the business were down 4.2% year over year. Analysts on average expect International Flavors and Fragrances, Inc. will post earnings of 3.97 per share this year.
International Flavors & Fragrances Announces Dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.40. This equates to an annualized dividend of $1.60 and a dividend yield of 1.68%. The ex-dividend date for this dividend is Friday, June 21st. International Flavors & Fragrances’ dividend payout ratio (DPR) is currently -16.38%.
International Flavors & Fragrances Company Profile
(Free report)
International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and distributes cosmetic active ingredients and natural health ingredients used in a variety of consumer products in the United States, Europe and internationally. The company operates through four segments: Nutrition, Health & Bioscience, Fragrance, and Pharmaceutical Solutions.
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