Pictet Asset Management Holding SA Sells 213,827 Shares of International Flavors & Fragrances Inc. $IFF

Pictet Asset Management Holding SA lowered its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 25.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 635,493 shares of the specialty chemicals company’s stock after selling 213,827 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.25% of International Flavors & Fragrances worth $46,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IFF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in International Flavors & Fragrances by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company’s stock worth $2,042,000 after acquiring an additional 1,335 shares during the period. Jones Financial Companies Lllp grew its position in shares of International Flavors & Fragrances by 15.7% during the 1st quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company’s stock valued at $309,000 after acquiring an additional 539 shares during the period. Empowered Funds LLC increased its stake in shares of International Flavors & Fragrances by 71.5% in the 1st quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company’s stock worth $811,000 after purchasing an additional 4,358 shares in the last quarter. Focus Partners Wealth increased its stake in shares of International Flavors & Fragrances by 25.5% in the 1st quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company’s stock worth $584,000 after purchasing an additional 1,530 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

NYSE IFF opened at $78.99 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $84.45. The business has a 50-day moving average price of $75.11 and a 200-day moving average price of $73.12. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm earned $1.20 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that International Flavors & Fragrances Inc. will post 4.56 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. International Flavors & Fragrances’s dividend payout ratio is currently 48.93%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IFF. Weiss Ratings raised International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Benchmark started coverage on International Flavors & Fragrances in a research report on Tuesday, June 9th. They set a “buy” rating and a $100.00 price objective on the stock. Rothschild & Co Redburn reduced their target price on shares of International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Citigroup decreased their target price on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.87.

Insiders Place Their Bets

In related news, Director Paul J. Fribourg purchased 260,000 shares of International Flavors & Fragrances stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the acquisition, the director owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.