International Flavors & Fragrances Inc. $IFF Stake Cut by Swiss National Bank

Swiss National Bank decreased its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 4.8% in the 3rd quarter, Holdings Channel reports. The firm owned 737,299 shares of the specialty chemicals company’s stock after selling 36,800 shares during the quarter. Swiss National Bank’s holdings in International Flavors & Fragrances were worth $45,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. True Wealth Design LLC lifted its position in shares of International Flavors & Fragrances by 896.4% in the 3rd quarter. True Wealth Design LLC now owns 548 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 493 shares during the last quarter. Elkhorn Partners Limited Partnership grew its position in shares of International Flavors & Fragrances by 200.0% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 600 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 400 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 210 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in International Flavors & Fragrances during the second quarter worth about $49,000. Finally, Transamerica Financial Advisors LLC lifted its holdings in International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 610 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IFF shares. Argus upped their target price on International Flavors & Fragrances from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wall Street Zen upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. Oppenheimer upgraded International Flavors & Fragrances from a “market perform” rating to an “outperform” rating and set a $97.00 price objective for the company in a research report on Friday, February 13th. Bank of America upped their price objective on International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on International Flavors & Fragrances from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Thirteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.09.

International Flavors & Fragrances Stock Up 1.9%

IFF stock opened at $70.06 on Friday. The firm’s 50-day moving average is $74.49 and its two-hundred day moving average is $68.16. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of -51.14, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the business earned $0.97 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. On average, analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. International Flavors & Fragrances’s dividend payout ratio is -116.79%.

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.