Pinnacle Associates Ltd. Reduces Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Pinnacle Associates Ltd. cut its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFFFree Report) by 12.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,286 shares of the specialty chemicals company’s stock after selling 784 shares during the quarter. Pinnacle Associates Ltd.’s holdings in International Flavors & Fragrances were worth $428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clear Street Markets LLC purchased a new stake in International Flavors & Fragrances during the 4th quarter worth approximately $27,000. Penserra Capital Management LLC purchased a new stake in International Flavors & Fragrances during the 4th quarter worth approximately $31,000. Covestor Ltd increased its holdings in International Flavors & Fragrances by 48.8% during the 1st quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 80 shares during the last quarter. West Tower Group LLC purchased a new stake in International Flavors & Fragrances during the 2nd quarter worth approximately $35,000. Finally, Parkside Financial Bank & Trust increased its holdings in International Flavors & Fragrances by 241.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 744 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 526 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Trading Up 1.5 %

NYSE:IFF opened at $85.52 on Thursday. International Flavors & Fragrances Inc. has a 12-month low of $62.11 and a 12-month high of $97.49. The firm has a market capitalization of $21.83 billion, a P/E ratio of -8.52, a P/E/G ratio of 1.93 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.67 and a quick ratio of 1.02. The business has a 50 day simple moving average of $80.91 and a 200 day simple moving average of $76.05.

International Flavors & Fragrances (NYSE:IFFGet Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm posted $0.97 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. Equities research analysts predict that International Flavors & Fragrances Inc. will post 3.69 EPS for the current year.

International Flavors & Fragrances Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.60 dividend on an annualized basis and a yield of 1.87%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -15.94%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on International Flavors & Fragrances from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. UBS Group boosted their price target on International Flavors & Fragrances from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Citigroup lowered their price target on International Flavors & Fragrances from $85.00 to $81.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Argus downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating in a report on Friday, March 8th. Finally, Barclays boosted their price target on International Flavors & Fragrances from $64.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $84.29.

Get Our Latest Research Report on International Flavors & Fragrances

International Flavors & Fragrances Profile

(Free Report)

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.

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Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc. (NYSE:IFFFree Report).

Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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