Private Management Group Inc. Reduces Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Private Management Group Inc. cut its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 41.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,367 shares of the specialty chemicals company’s stock after selling 54,331 shares during the quarter. Private Management Group Inc.’s holdings in International Flavors & Fragrances were worth $7,366,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in International Flavors & Fragrances in the first quarter valued at approximately $27,000. Quent Capital LLC lifted its holdings in International Flavors & Fragrances by 183.2% in the first quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 240 shares during the period. Family Firm Inc. acquired a new position in shares of International Flavors & Fragrances during the 2nd quarter worth approximately $38,000. MCF Advisors LLC raised its stake in shares of International Flavors & Fragrances by 1,856.0% during the 2nd quarter. MCF Advisors LLC now owns 489 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 464 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of International Flavors & Fragrances during the 1st quarter worth approximately $44,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley upped their target price on International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 3rd. Oppenheimer assumed coverage on International Flavors & Fragrances in a research note on Friday, June 7th. They set an “outperform” rating and a $116.00 target price for the company. Wells Fargo & Company upped their target price on International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Citigroup upped their target price on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, UBS Group dropped their price target on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Hold” and a consensus target price of $103.80.

International Flavors & Fragrances Stock Performance

IFF opened at $103.01 on Monday. The stock’s 50-day moving average price is $98.32 and its 200 day moving average price is $91.95. International Flavors & Fragrances Inc. has a 12-month low of $62.28 and a 12-month high of $105.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 4.22 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -16.38%.

Insider Transactions at International Flavors & Fragrances

In related news, insider Angela Strzelecki sold 2,588 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total transaction of $247,568.08. Following the transaction, the insider now owns 8,539 shares in the company, valued at approximately $816,840.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Company 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.