Kornitzer Capital Management Inc. KS Has $8.76 Million Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Kornitzer Capital Management Inc. KS cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,466 shares of the specialty chemicals company’s stock after selling 1,592 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in International Flavors & Fragrances were worth $8,758,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in International Flavors & Fragrances during the third quarter valued at about $27,000. Family Firm Inc. bought a new stake in shares of International Flavors & Fragrances in the second quarter valued at $38,000. Larson Financial Group LLC lifted its position in shares of International Flavors & Fragrances by 5,050.0% during the 1st quarter. Larson Financial Group LLC now owns 515 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 505 shares during the last quarter. Oakworth Capital Inc. bought a new position in shares of International Flavors & Fragrances during the 3rd quarter worth $44,000. Finally, Eastern Bank bought a new position in International Flavors & Fragrances during the third quarter worth about $46,000. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Up 3.9 %

Shares of NYSE IFF opened at $90.96 on Friday. The stock has a market capitalization of $23.25 billion, a P/E ratio of -9.87, a PEG ratio of 1.77 and a beta of 1.22. The firm’s 50 day simple moving average is $102.40 and its two-hundred day simple moving average is $98.04. International Flavors & Fragrances Inc. has a one year low of $69.73 and a one year high of $106.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.46). International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. International Flavors & Fragrances’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts expect that International Flavors & Fragrances Inc. will post 4.24 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.76%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -17.35%.

Analyst Upgrades and Downgrades

IFF has been the subject of a number of recent research reports. Oppenheimer lifted their price objective on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Citigroup boosted their price objective on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Vertical Research raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a report on Thursday. Barclays increased their price target on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus upped their target price on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.27.

International Flavors & Fragrances 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.