Federated Hermes Inc. Sells 297 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Federated Hermes Inc. reduced its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 5.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,385 shares of the specialty chemicals company’s stock after selling 297 shares during the quarter. Federated Hermes Inc.’s holdings in International Flavors & Fragrances were worth $418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IFF. Mather Group LLC. grew its position in shares of International Flavors & Fragrances by 179.9% during the 1st quarter. Mather Group LLC. now owns 655 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 421 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of International Flavors & Fragrances during the 1st quarter worth approximately $77,000. Quarry LP acquired a new position in shares of International Flavors & Fragrances during the 4th quarter worth approximately $78,000. Farther Finance Advisors LLC grew its position in shares of International Flavors & Fragrances by 48.5% during the 1st quarter. Farther Finance Advisors LLC now owns 1,534 shares of the specialty chemicals company’s stock worth $119,000 after purchasing an additional 501 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of International Flavors & Fragrances during the 1st quarter worth approximately $138,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Insider Activity

In other news, Director Kevin O’byrne bought 4,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price of $76.05 per share, with a total value of $342,225.00. Following the completion of the purchase, the director directly owned 7,696 shares of the company’s stock, valued at approximately $585,280.80. This represents a 140.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephen N. Landsman bought 12,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average cost of $77.28 per share, with a total value of $927,360.00. Following the purchase, the executive vice president directly owned 12,000 shares of the company’s stock, valued at $927,360. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 52,100 shares of company stock valued at $3,631,607. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IFF has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday. Robert W. Baird reduced their price target on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Citigroup increased their price target on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley reduced their price target on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.36.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $63.60 on Friday. The firm has a 50 day simple moving average of $74.65 and a 200 day simple moving average of $77.39. The company has a market cap of $16.30 billion, a price-to-earnings ratio of -41.03, a PEG ratio of 2.84 and a beta of 1.04. International Flavors & Fragrances Inc. has a one year low of $63.50 and a one year high of $106.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.39.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.04. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.69 billion. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. Research analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -103.23%.

International Flavors & Fragrances Company Profile

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.