Kornitzer Capital Management Inc. KS Sells 8,249 Shares of International Flavors & Fragrances Inc. $IFF

Kornitzer Capital Management Inc. KS trimmed its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 12.5% during the third quarter, HoldingsChannel reports. The firm owned 57,796 shares of the specialty chemicals company’s stock after selling 8,249 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in International Flavors & Fragrances were worth $3,557,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First Eagle Investment Management LLC grew its stake in International Flavors & Fragrances by 122.1% in the second quarter. First Eagle Investment Management LLC now owns 5,441,094 shares of the specialty chemicals company’s stock valued at $400,192,000 after acquiring an additional 2,991,405 shares during the period. Ilex Capital Partners UK LLP bought a new position in shares of International Flavors & Fragrances during the 2nd quarter valued at about $212,090,000. Ameriprise Financial Inc. grew its position in shares of International Flavors & Fragrances by 1,842.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company’s stock valued at $183,264,000 after purchasing an additional 2,363,307 shares during the period. Norges Bank bought a new stake in International Flavors & Fragrances during the 2nd quarter worth approximately $152,736,000. Finally, Dodge & Cox lifted its position in International Flavors & Fragrances by 3.8% in the 2nd quarter. Dodge & Cox now owns 35,047,387 shares of the specialty chemicals company’s stock valued at $2,577,735,000 after acquiring an additional 1,272,780 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF opened at $73.17 on Wednesday. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $88.00. The company’s 50 day moving average price is $67.96 and its two-hundred day moving average price is $66.68. The firm has a market cap of $18.74 billion, a PE ratio of -45.16, a PEG ratio of 2.80 and a beta of 1.04. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.03. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.65 billion. International Flavors & Fragrances had a positive return on equity of 8.03% and a negative net margin of 3.72%.The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 earnings per share. Equities research analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, December 19th. International Flavors & Fragrances’s dividend payout ratio is -98.77%.

Analysts Set New Price Targets

IFF has been the subject of several research analyst reports. Mizuho reduced their target price on International Flavors & Fragrances from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of International Flavors & Fragrances in a research report on Monday, December 29th. Bank of America lifted their target price on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wall Street Zen raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday, January 4th. Finally, Barclays boosted their price objective on International Flavors & Fragrances from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

International Flavors & Fragrances Company 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.