Truist Financial Corp Sells 64,235 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Truist Financial Corp trimmed its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 39.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,730 shares of the specialty chemicals company’s stock after selling 64,235 shares during the period. Truist Financial Corp’s holdings in International Flavors & Fragrances were worth $7,913,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC raised its holdings in International Flavors & Fragrances by 3,000.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in International Flavors & Fragrances during the fourth quarter worth about $41,000. Parkside Financial Bank & Trust raised its holdings in International Flavors & Fragrances by 241.3% during the third quarter. Parkside Financial Bank & Trust now owns 744 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 526 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in International Flavors & Fragrances by 466.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 918 shares of the specialty chemicals company’s stock worth $74,000 after acquiring an additional 756 shares in the last quarter. Finally, Roble Belko & Company Inc bought a new stake in International Flavors & Fragrances during the fourth quarter worth about $89,000. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $86.66 on Friday. International Flavors & Fragrances Inc. has a 12 month low of $62.11 and a 12 month high of $97.49. The stock’s 50 day moving average is $82.49 and its 200-day moving average is $78.64. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of -8.63, a PEG ratio of 1.88 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.03). The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 earnings per share. Equities research analysts expect that International Flavors & Fragrances Inc. will post 3.68 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, June 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -15.94%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company upped their target price on International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Wolfe Research initiated coverage on International Flavors & Fragrances in a report on Friday, March 1st. They set an “underperform” rating on the stock. Morgan Stanley boosted their price target on International Flavors & Fragrances from $89.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. UBS Group boosted their price target on International Flavors & Fragrances from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, Citigroup raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $81.00 to $100.00 in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Hold” and an average price target of $86.35.

International Flavors & Fragrances 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.