International Flavors & Fragrances Inc. (NYSE:IFF) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,058 shares of the specialty chemicals company’s stock after selling 1,302 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in International Flavors & Fragrances were worth $8,098,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in shares of International Flavors & Fragrances by 7.8% during the first quarter. Van ECK Associates Corp now owns 4,778,678 shares of the specialty chemicals company’s stock worth $410,919,000 after acquiring an additional 344,377 shares during the last quarter. First Pacific Advisors LP increased its stake in International Flavors & Fragrances by 2.0% in the second quarter. First Pacific Advisors LP now owns 4,011,307 shares of the specialty chemicals company’s stock valued at $381,917,000 after purchasing an additional 80,558 shares during the period. Capital International Investors raised its holdings in shares of International Flavors & Fragrances by 1.4% in the fourth quarter. Capital International Investors now owns 2,375,699 shares of the specialty chemicals company’s stock valued at $192,360,000 after buying an additional 33,548 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of International Flavors & Fragrances by 9.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,895,581 shares of the specialty chemicals company’s stock worth $163,003,000 after buying an additional 162,179 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of International Flavors & Fragrances by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,414,582 shares of the specialty chemicals company’s stock worth $114,539,000 after buying an additional 51,143 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Morgan Stanley upped their price objective on International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their price objective on shares of International Flavors & Fragrances from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Mizuho upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $109.00 to $120.00 in a research report on Tuesday. UBS Group lowered their target price on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, Oppenheimer assumed coverage on shares of International Flavors & Fragrances in a research report on Friday, June 7th. They issued an “outperform” rating and a $116.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Hold” and a consensus target price of $103.27.

Insider Activity

In other International Flavors & Fragrances news, insider Angela Strzelecki sold 2,588 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total value of $247,568.08. Following the completion of the transaction, the insider now directly owns 8,539 shares in the company, valued at approximately $816,840.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $102.67 on Friday. The company has a 50-day moving average of $98.17 and a two-hundred day moving average of $91.63. The stock has a market cap of $26.22 billion, a P/E ratio of -10.51, a PEG ratio of 1.87 and a beta of 1.22. International Flavors & Fragrances Inc. has a 12-month low of $62.28 and a 12-month high of $105.30. The company has a current ratio of 2.38, a quick ratio of 1.75 and a debt-to-equity ratio of 0.60.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. International Flavors & Fragrances’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts predict that International Flavors & Fragrances Inc. will post 4.21 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.56%. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.