Cetera Investment Advisers Reduces Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Cetera Investment Advisers reduced its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,970 shares of the specialty chemicals company’s stock after selling 2,324 shares during the period. Cetera Investment Advisers’ holdings in International Flavors & Fragrances were worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA boosted its stake in shares of International Flavors & Fragrances by 11.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 114,179 shares of the specialty chemicals company’s stock worth $9,654,000 after buying an additional 11,406 shares during the last quarter. Choreo LLC boosted its stake in shares of International Flavors & Fragrances by 55.7% in the 4th quarter. Choreo LLC now owns 24,401 shares of the specialty chemicals company’s stock worth $2,055,000 after buying an additional 8,728 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in shares of International Flavors & Fragrances in the 4th quarter worth $7,508,000. Regents Gate Capital LLP purchased a new position in International Flavors & Fragrances during the fourth quarter valued at $6,044,000. Finally, Proficio Capital Partners LLC purchased a new position in International Flavors & Fragrances during the fourth quarter valued at $8,099,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock opened at $77.68 on Monday. The stock’s 50-day simple moving average is $75.89 and its 200-day simple moving average is $82.55. International Flavors & Fragrances Inc. has a 52 week low of $65.85 and a 52 week high of $106.77. The company has a market capitalization of $19.87 billion, a price-to-earnings ratio of 82.64, a PEG ratio of 1.45 and a beta of 1.08. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.12 by $0.08. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the business earned $1.13 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. As a group, analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. International Flavors & Fragrances’s dividend payout ratio (DPR) is -48.93%.

Insider Transactions at International Flavors & Fragrances

In other news, Director Kevin O’byrne bought 6,500 shares of International Flavors & Fragrances stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $80.44 per share, with a total value of $522,860.00. Following the completion of the acquisition, the director now owns 6,500 shares of the company’s stock, valued at $522,860. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Erik Fyrwald bought 700 shares of International Flavors & Fragrances stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $74.00 per share, for a total transaction of $51,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,770 shares of the company’s stock, valued at approximately $2,794,980. The trade was a 1.89% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 11,200 shares of company stock valued at $875,980. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IFF. Barclays upgraded International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $76.00 to $84.00 in a research report on Thursday, May 8th. Cfra downgraded International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 target price on the stock. in a research report on Thursday, February 20th. Mizuho lowered their target price on International Flavors & Fragrances from $95.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. UBS Group lifted their target price on International Flavors & Fragrances from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lowered their target price on International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.54.

International Flavors & Fragrances Profile

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.