International Flavors & Fragrances Inc. (NYSE:IFF) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFFFree Report) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,286 shares of the specialty chemicals company’s stock after selling 784 shares during the quarter. Pinnacle Associates Ltd.’s holdings in International Flavors & Fragrances were worth $428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Winder Pte. Ltd. acquired a new position in shares of International Flavors & Fragrances during the third quarter worth about $1,728,544,000. State Street Corp grew its position in shares of International Flavors & Fragrances by 8.9% during the second quarter. State Street Corp now owns 14,567,213 shares of the specialty chemicals company’s stock worth $1,171,031,000 after buying an additional 1,192,222 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of International Flavors & Fragrances by 59.2% during 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 buying an additional 2,890,737 shares in the last quarter. Nordea Investment Management AB grew its position in shares of International Flavors & Fragrances by 16.3% during the third quarter. Nordea Investment Management AB now owns 5,672,776 shares of the specialty chemicals company’s stock worth $388,358,000 after buying an additional 795,797 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of International Flavors & Fragrances by 2.3% during the first quarter. Geode Capital Management LLC now owns 5,274,530 shares of the specialty chemicals company’s stock worth $483,953,000 after buying an additional 116,338 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on International Flavors & Fragrances from $87.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, February 21st. Wells Fargo & Company boosted their target price on International Flavors & Fragrances from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Argus cut International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Wolfe Research assumed coverage on International Flavors & Fragrances in a research note on Friday, March 1st. They set an “underperform” rating for the company. Finally, Jefferies Financial Group upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and boosted their target price for the stock from $73.00 to $112.00 in a research note on Friday, January 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.29.

View Our Latest Analysis on IFF

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $85.52 on Thursday. International Flavors & Fragrances Inc. has a 12 month low of $62.11 and a 12 month high of $97.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.67 and a quick ratio of 1.02. The business has a 50 day simple moving average of $80.91 and a 200-day simple moving average of $76.05. The stock has a market capitalization of $21.83 billion, a PE ratio of -8.52, a price-to-earnings-growth ratio of 1.93 and a beta of 1.23.

International Flavors & Fragrances (NYSE:IFFGet Free Report) last released its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.03). International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the company earned $0.97 EPS. International Flavors & Fragrances’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities analysts predict that International Flavors & Fragrances Inc. will post 3.69 earnings per share for the current year.

International Flavors & Fragrances Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Friday, March 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, March 21st. International Flavors & Fragrances’s dividend payout ratio is presently -15.94%.

International Flavors & Fragrances Profile

(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 the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.

Read More

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

Receive News & Ratings for International Flavors & Fragrances Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Flavors & Fragrances and related companies with MarketBeat.com's FREE daily email newsletter.