Cerity Partners LLC Sells 1,344 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Cerity Partners LLC lessened its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,476 shares of the specialty chemicals company’s stock after selling 1,344 shares during the quarter. Cerity Partners LLC’s holdings in International Flavors & Fragrances were worth $1,478,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of International Flavors & Fragrances in the fourth quarter valued at $32,000. Fairway Wealth LLC purchased a new position in shares of International Flavors & Fragrances in the 4th quarter worth $34,000. Rialto Wealth Management LLC purchased a new position in International Flavors & Fragrances in the fourth quarter worth about $42,000. Principal Securities Inc. increased its position in shares of International Flavors & Fragrances by 36.6% during the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock valued at $54,000 after purchasing an additional 171 shares during the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new position in International Flavors & Fragrances during the fourth quarter worth $78,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kevin O’byrne bought 6,500 shares of International Flavors & Fragrances stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $80.44 per share, with a total value of $522,860.00. Following the completion of the acquisition, the director now directly owns 6,500 shares of the company’s stock, valued at $522,860. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Trading Up 3.2 %

IFF opened at $73.33 on Friday. International Flavors & Fragrances Inc. has a 12 month low of $65.85 and a 12 month high of $106.77. The stock has a fifty day moving average price of $78.42 and a 200-day moving average price of $86.68. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of 78.01, a PEG ratio of 1.45 and a beta of 1.21. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.14. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.67 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. As a group, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, March 21st. International Flavors & Fragrances’s dividend payout ratio is presently 170.21%.

Wall Street Analyst Weigh In

IFF has been the topic of several analyst reports. Bank of America cut their price target on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Morgan Stanley lowered their target price on shares of International Flavors & Fragrances from $106.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Oppenheimer dropped their target price on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Cfra downgraded shares of International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price target for the company. in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.69.

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.