California State Teachers Retirement System Lowers Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

California State Teachers Retirement System reduced its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Get Rating) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 428,792 shares of the specialty chemicals company’s stock after selling 4,041 shares during the period. California State Teachers Retirement System owned approximately 0.17% of International Flavors & Fragrances worth $38,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd increased its stake in International Flavors & Fragrances by 48.8% in the 1st quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 80 shares during the last quarter. Riverview Trust Co raised its stake in International Flavors & Fragrances by 64.1% in the third quarter. Riverview Trust Co now owns 274 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 107 shares in the last quarter. Asset Dedication LLC bought a new stake in International Flavors & Fragrances during the third quarter valued at approximately $25,000. CI Investments Inc. increased its holdings in shares of International Flavors & Fragrances by 1,003.2% in the 3rd quarter. CI Investments Inc. now owns 342 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 311 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of International Flavors & Fragrances by 51.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 488 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 88.86% of the company’s stock.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $82.76 on Friday. The firm’s fifty day simple moving average is $102.04 and its 200 day simple moving average is $101.01. International Flavors & Fragrances Inc. has a twelve month low of $81.53 and a twelve month high of $135.17. The company has a quick ratio of 1.15, a current ratio of 1.99 and a debt-to-equity ratio of 0.59. The stock has a market cap of $21.11 billion, a P/E ratio of -11.46, a price-to-earnings-growth ratio of 4.13 and a beta of 1.08.

International Flavors & Fragrances (NYSE:IFF – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.89 billion. International Flavors & Fragrances had a negative net margin of 14.81% and a positive return on equity of 7.46%. International Flavors & Fragrances’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. As a group, research analysts predict that International Flavors & Fragrances Inc. will post 4.83 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Friday, March 24th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Thursday, March 23rd. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -44.88%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IFF. Wells Fargo & Company reduced their target price on International Flavors & Fragrances from $123.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, February 10th. Mizuho dropped their target price on International Flavors & Fragrances from $119.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. Bank of America upgraded shares of International Flavors & Fragrances from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $121.00 to $106.00 in a research report on Friday, February 10th. Credit Suisse Group cut their price objective on shares of International Flavors & Fragrances from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, February 9th. Finally, Robert W. Baird decreased their target price on shares of International Flavors & Fragrances from $120.00 to $106.00 and set an “outperform” rating on the stock in a research report on Friday, February 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $117.31.

International Flavors & Fragrances Company Profile

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International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.