ICICI Prudential Asset Management Co Ltd Lowers Position in International Flavors & Fragrances Inc. (NYSE:IFF)

ICICI Prudential Asset Management Co Ltd lessened its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 7.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 96,486 shares of the specialty chemicals company’s stock after selling 7,700 shares during the period. International Flavors & Fragrances comprises 1.1% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 18th biggest position. ICICI Prudential Asset Management Co Ltd’s holdings in International Flavors & Fragrances were worth $10,124,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of IFF. Envestnet Portfolio Solutions Inc. increased its stake in shares of International Flavors & Fragrances by 2.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,247 shares of the specialty chemicals company’s stock worth $1,483,000 after acquiring an additional 409 shares during the period. Empowered Funds LLC raised its position in International Flavors & Fragrances by 29.0% during the first quarter. Empowered Funds LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $297,000 after buying an additional 776 shares during the period. Sei Investments Co. lifted its holdings in International Flavors & Fragrances by 55.4% in the 1st quarter. Sei Investments Co. now owns 101,015 shares of the specialty chemicals company’s stock worth $8,686,000 after purchasing an additional 36,026 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in International Flavors & Fragrances by 81.2% in the 1st quarter. Russell Investments Group Ltd. now owns 201,111 shares of the specialty chemicals company’s stock valued at $17,290,000 after acquiring an additional 90,110 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in International Flavors & Fragrances by 15.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 415,469 shares of the specialty chemicals company’s stock valued at $35,726,000 after purchasing an additional 56,091 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IFF has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Morgan Stanley raised International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $111.00 to $110.00 in a research note on Tuesday. Bank of America raised shares of International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 target price for the company in a report on Friday, November 8th. UBS Group upped their price target on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price objective on International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.27.

Insider Buying and Selling at International Flavors & Fragrances

In other news, insider Yuvraj Arora sold 5,000 shares of International Flavors & Fragrances stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $91.75, for a total value of $458,750.00. Following the transaction, the insider now directly owns 3,238 shares of the company’s stock, valued at $297,086.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is owned by company insiders.

International Flavors & Fragrances Stock Up 0.2 %

Shares of IFF traded up $0.18 on Wednesday, hitting $89.61. 139,537 shares of the stock traded hands, compared to its average volume of 1,670,876. The business has a 50 day simple moving average of $101.62 and a 200 day simple moving average of $98.36. International Flavors & Fragrances Inc. has a one year low of $72.50 and a one year high of $106.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 1.93.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data 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 7.16% and a negative net margin of 20.33%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that International Flavors & Fragrances Inc. will post 4.21 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, December 20th. International Flavors & Fragrances’s dividend payout ratio is currently -17.60%.

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.