Sumitomo Mitsui Trust Group Inc. Sells 36,721 Shares of International Flavors & Fragrances Inc. $IFF

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,107 shares of the specialty chemicals company’s stock after selling 36,721 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in International Flavors & Fragrances were worth $41,361,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of International Flavors & Fragrances by 1.1% in the 4th quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company’s stock worth $751,875,000 after acquiring an additional 121,260 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in International Flavors & Fragrances by 27.5% during the fourth quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock worth $595,166,000 after purchasing an additional 1,904,598 shares during the last quarter. Invesco Ltd. boosted its holdings in International Flavors & Fragrances by 4.9% during the fourth quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock worth $506,760,000 after purchasing an additional 352,636 shares during the last quarter. Geode Capital Management LLC grew its position in International Flavors & Fragrances by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company’s stock worth $454,607,000 after purchasing an additional 172,781 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in International Flavors & Fragrances by 28.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,042,758 shares of the specialty chemicals company’s stock valued at $407,221,000 after buying an additional 1,336,479 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IFF has been the topic of a number of research analyst reports. Barclays boosted their target price on International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Citigroup dropped their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. UBS Group boosted their price objective on International Flavors & Fragrances from $75.00 to $86.00 in a research report on Thursday, May 7th. Benchmark started coverage on International Flavors & Fragrances in a research note on Tuesday, June 9th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Morgan Stanley lifted their target price on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and an average price target of $91.16.

Insider Buying and Selling

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 260,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was purchased at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the transaction, the director directly owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.07% of the stock is currently owned by company insiders.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $77.57 on Monday. The business’s 50 day simple moving average is $76.66 and its 200 day simple moving average is $74.03. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $84.45. The company has a market cap of $19.80 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.80 and a beta of 0.93. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, June 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, June 18th. International Flavors & Fragrances’s payout ratio is currently 48.93%.

About International Flavors & Fragrances

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.