DAVENPORT & Co LLC trims position in shares of International Flavors & Fragrances Inc. (NYSE:IFF)
DAVENPORT & Co LLC reduced its stake in International Flavors & Fragrances Inc. (NYSE: IFF – Get Rating) by 9.5% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC) . The fund held 5,711 shares of the specialty chemicals company after selling 600 shares during the quarter. DAVENPORT & Co LLC’s holdings in International Flavors & Fragrances were worth $750,000 when it last filed with the Securities and Exchange Commission (SEC).
Other large investors have also recently changed their holdings in the company. Covestor Ltd purchased a new stake in International Flavors & Fragrances in Q4 for a value of approximately $25,000. JJJ Advisors Inc. increased its holdings in International Flavors & Fragrances by 74.3% in the fourth quarter. JJJ Advisors Inc. now owns 176 shares of the specialty chemicals company worth $27,000 after buying 75 more shares in the last quarter. First Personal Financial Services purchased a new stake in shares of International Flavors & Fragrances during Q4, valued at approximately $30,000. Atwood & Palmer Inc. increased its stake in shares of International Flavors & Fragrances by 1,718.2% during the 1st quarter. Atwood & Palmer Inc. now owns 200 shares of the specialty chemicals company valued at $26,000 after purchasing an additional 189 shares during the period. Finally, Steward Financial Group LLC purchased a new stake in shares of International Flavors & Fragrances during Q4, valued at approximately $31,000. Hedge funds and other institutional investors hold 90.67% of the company’s shares.
Analyst upgrades and downgrades
A number of research companies have published reports on the IFF. Wells Fargo & Company raised its price target on International Flavors & Fragrances from $145.00 to $150.00 in a Wednesday, May 11 research note. StockNews.com upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a Wednesday, May 18 research note. Bank of America cut its price target on International Flavors & Fragrances from $169.00 to $161.00 and set a “buy” rating for the company in a Wednesday, July 13 research note. Deutsche Bank Aktiengesellschaft lowered its price target on International Flavors & Fragrances from $165.00 to $145.00 in a Thursday, May 12 research note. Finally, Credit Suisse Group took over coverage of international flavors and fragrances in a Monday, June 27 research note. They set an “outperform” rating and a price target of $145.00 for the company. One analyst rated the stock with a sell rating, four assigned a hold rating and seven assigned the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.92.
International stock of flavors and fragrances down 0.1%
NYSE IFF opened at $122.26 on Monday. The stock’s 50-day moving average is $122.32 and its 200-day moving average is $127.14. The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt ratio of 0.51. International Flavors & Fragrances Inc. has a 12-month low of $105.38 and a 12-month high of $157.08. The stock has a market capitalization of $31.16 billion, a PE ratio of 56.08, a P/E/G ratio of 2.13 and a beta of 1.02.
International Flavors & Fragrances (NYSE:IFF – Get Rating) released its quarterly results for the last time on Monday, May 9. The specialty chemicals company reported EPS of $1.69 for the quarter, beating analyst consensus estimates of $1.31 by $0.38. International Flavors & Fragrances achieved a return on equity of 6.89% and a net margin of 4.48%. The company posted revenue of $3.23 billion for the quarter, versus $3.09 billion expected by analysts. During the same period of the previous year, the company achieved EPS of $1.60. The company’s revenue increased by 30.9% compared to the same quarter last year. Research analysts predict that International Flavors & Fragrances Inc. will post an EPS of 5.76 for the current fiscal year.
Announcing the International Flavors and Fragrances Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6. Shareholders of record on Friday, June 24 received a dividend of $0.79 per share. The ex-dividend date was Thursday, June 23. This represents an annualized dividend of $3.16 and a dividend yield of 2.58%. The dividend payout ratio (DPR) of International Flavors & Fragrances is 144.95%.
Insider Trading at International Flavors & Fragrances
Separately, De Villeplee insider Christoph Fauchon sold 629 shares of the company in a trade that took place on Wednesday, June 1. The stock was sold at an average price of $132.59, for a total transaction of $83,399.11. Following the sale, the insider now directly owns 8,180 shares of the company, valued at approximately $1,084,586.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders hold 0.20% of the shares of the company.
International Flavors and Fragrances Company Profile
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International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells active cosmetic and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America and in Latin America. It operates through Nourish, Scent, Health & Biosciences and Pharma Solutions segments.
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