Sumitomo Mitsui Asset Management Company LTD cut its position in shares of Internationa Flavors & Fragrances, Inc. (NYSE:IFF) by 9.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,185 shares of the specialty chemicals company’s stock after selling 634 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Internationa Flavors & Fragrances were worth $834,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. YorkBridge Wealth Partners LLC boosted its stake in shares of Internationa Flavors & Fragrances by 25.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 723 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 146 shares in the last quarter. TrimTabs Asset Management LLC purchased a new stake in shares of Internationa Flavors & Fragrances during the first quarter worth $122,000. Cornerstone Advisors Inc. boosted its stake in shares of Internationa Flavors & Fragrances by 30.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,056 shares of the specialty chemicals company’s stock worth $143,000 after buying an additional 245 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Internationa Flavors & Fragrances by 7.2% in the first quarter. Van ECK Associates Corp now owns 1,167 shares of the specialty chemicals company’s stock worth $155,000 after buying an additional 78 shares in the last quarter. Finally, Cohen Capital Management Inc. purchased a new stake in shares of Internationa Flavors & Fragrances during the first quarter worth $172,000. Institutional investors own 84.53% of the company’s stock.

Internationa Flavors & Fragrances, Inc. (IFF) opened at 134.80 on Monday. The company’s 50-day moving average price is $134.28 and its 200-day moving average price is $130.75. Internationa Flavors & Fragrances, Inc. has a one year low of $113.16 and a one year high of $143.64. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 26.81 and a beta of 1.11.

Internationa Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Monday, May 8th. The specialty chemicals company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. The firm had revenue of $828.30 million for the quarter, compared to the consensus estimate of $833.73 million. Internationa Flavors & Fragrances had a return on equity of 26.75% and a net margin of 12.72%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 EPS. On average, analysts anticipate that Internationa Flavors & Fragrances, Inc. will post $5.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Monday, September 25th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, September 22nd. This represents a $2.76 annualized dividend and a yield of 2.05%. This is an increase from Internationa Flavors & Fragrances’s previous quarterly dividend of $0.64. Internationa Flavors & Fragrances’s payout ratio is presently 50.89%.

TRADEMARK VIOLATION WARNING: This story was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/08/07/sumitomo-mitsui-asset-management-company-ltd-cuts-position-in-internationa-flavors-fragrances-inc-nyseiff.html.

Several research firms have recently commented on IFF. BidaskClub cut Internationa Flavors & Fragrances from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. Barclays PLC restated a “sell” rating on shares of Internationa Flavors & Fragrances in a research note on Friday, May 12th. Stifel Nicolaus restated a “hold” rating and set a $136.00 price target on shares of Internationa Flavors & Fragrances in a research note on Friday, July 21st. Zacks Investment Research upgraded Internationa Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Monday, July 24th. Finally, Vertical Research cut Internationa Flavors & Fragrances from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $139.22.

In other news, EVP Francisco Fortanet sold 300 shares of Internationa Flavors & Fragrances stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $134.36, for a total transaction of $40,308.00. Following the transaction, the executive vice president now directly owns 19,994 shares in the company, valued at approximately $2,686,393.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Winder Investment Pte Ltd purchased 40,000 shares of the stock in a transaction dated Monday, May 15th. The shares were purchased at an average price of $132.44 per share, for a total transaction of $5,297,600.00. Following the completion of the transaction, the insider now owns 9,101,803 shares in the company, valued at approximately $1,205,442,789.32. The disclosure for this purchase can be found here. Insiders have acquired a total of 977,408 shares of company stock worth $130,648,498 in the last ninety days. 0.48% of the stock is owned by company insiders.

Internationa Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.

Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Internationa Flavors & Fragrances, Inc. (NYSE:IFF).

Institutional Ownership by Quarter for Internationa Flavors & Fragrances (NYSE:IFF)

Receive News & Ratings for Internationa Flavors & Fragrances Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Internationa Flavors & Fragrances Inc. and related companies with MarketBeat.com's FREE daily email newsletter.