Mackenzie Financial Corp Sells 1,534 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Mackenzie Financial Corp lessened its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,385 shares of the specialty chemicals company’s stock after selling 1,534 shares during the period. Mackenzie Financial Corp’s holdings in International Flavors & Fragrances were worth $1,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vontobel Holding Ltd. raised its stake in International Flavors & Fragrances by 3.7% in the fourth quarter. Vontobel Holding Ltd. now owns 9,360 shares of the specialty chemicals company’s stock worth $758,000 after buying an additional 338 shares in the last quarter. Crumly & Associates Inc. raised its stake in International Flavors & Fragrances by 30.0% in the fourth quarter. Crumly & Associates Inc. now owns 6,814 shares of the specialty chemicals company’s stock worth $552,000 after buying an additional 1,571 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in International Flavors & Fragrances in the fourth quarter worth approximately $1,247,000. WCM Investment Management LLC raised its stake in International Flavors & Fragrances by 5.0% in the fourth quarter. WCM Investment Management LLC now owns 31,135 shares of the specialty chemicals company’s stock worth $2,548,000 after buying an additional 1,496 shares in the last quarter. Finally, Graypoint LLC bought a new position in International Flavors & Fragrances in the fourth quarter worth approximately $249,000. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $85.44 on Wednesday. International Flavors & Fragrances Inc. has a one year low of $62.11 and a one year high of $97.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.67. The firm has a market cap of $21.81 billion, a price-to-earnings ratio of -8.51, a PEG ratio of 1.87 and a beta of 1.23. The firm’s fifty day moving average is $81.81 and its two-hundred day moving average is $77.83.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.03). International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the company posted $0.97 earnings per share. International Flavors & Fragrances’s revenue for the quarter was down 5.0% compared to the same quarter last year. Research analysts expect 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 was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, March 21st. International Flavors & Fragrances’s payout ratio is -15.94%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IFF shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Barclays raised shares of International Flavors & Fragrances from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 18th. Wells Fargo & Company lifted their price target on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Robert W. Baird lifted their price target on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Mizuho lifted their price target on shares of International Flavors & Fragrances from $83.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, International Flavors & Fragrances presently has an average rating of “Hold” and an average target price of $86.35.

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.