Janney Montgomery Scott LLC Cuts Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Janney Montgomery Scott LLC lowered its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 8.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,715 shares of the specialty chemicals company’s stock after selling 1,705 shares during the period. Janney Montgomery Scott LLC’s holdings in International Flavors & Fragrances were worth $1,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of International Flavors & Fragrances in the 4th quarter worth approximately $32,000. Fairway Wealth LLC purchased a new stake in shares of International Flavors & Fragrances in the 4th quarter worth approximately $34,000. Rialto Wealth Management LLC purchased a new stake in shares of International Flavors & Fragrances in the 4th quarter worth approximately $42,000. Principal Securities Inc. grew its stake in shares of International Flavors & Fragrances by 36.6% in the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock worth $54,000 after buying an additional 171 shares during the last quarter. Finally, United Community Bank grew its stake in shares of International Flavors & Fragrances by 19.4% in the 4th quarter. United Community Bank now owns 925 shares of the specialty chemicals company’s stock worth $78,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock opened at $74.44 on Friday. International Flavors & Fragrances Inc. has a one year low of $65.85 and a one year high of $106.77. The stock’s fifty day moving average is $76.19 and its 200 day moving average is $79.64. The stock has a market cap of $19.04 billion, a P/E ratio of -22.77, a P/E/G ratio of 3.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 7.99% and a negative net margin of 7.31%. International Flavors & Fragrances’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. Sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. International Flavors & Fragrances’s dividend payout ratio is presently -48.93%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IFF. Tigress Financial began coverage on International Flavors & Fragrances in a research note on Wednesday, June 4th. They set a “buy” rating and a $105.00 target price on the stock. Stifel Nicolaus cut their target price on International Flavors & Fragrances from $105.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Oppenheimer cut their target price on International Flavors & Fragrances from $104.00 to $89.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley cut their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Finally, UBS Group increased their target price on International Flavors & Fragrances from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.43.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, EVP Stephen N. Landsman purchased 12,000 shares of the firm’s stock in a transaction on Monday, May 19th. The shares were acquired at an average cost of $77.28 per share, with a total value of $927,360.00. Following the completion of the acquisition, the executive vice president now directly owns 12,000 shares in the company, valued at $927,360. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hernandez Margarita Palau purchased 850 shares of the firm’s stock in a transaction on Monday, May 19th. The shares were acquired at an average cost of $77.42 per share, for a total transaction of $65,807.00. Following the completion of the acquisition, the director now owns 2,393 shares of the company’s stock, valued at approximately $185,266.06. This trade represents a 55.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 22,050 shares of company stock valued at $1,688,512 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.