Assenagon Asset Management S.A. Sells 2,341 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Assenagon Asset Management S.A. lessened its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 19.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,986 shares of the specialty chemicals company’s stock after selling 2,341 shares during the period. Assenagon Asset Management S.A.’s holdings in International Flavors & Fragrances were worth $775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dodge & Cox grew its position in shares of International Flavors & Fragrances by 11.9% in the 4th quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company’s stock valued at $2,658,063,000 after acquiring an additional 3,355,381 shares during the period. Vanguard Group Inc. grew its position in shares of International Flavors & Fragrances by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 30,218,759 shares of the specialty chemicals company’s stock valued at $2,554,996,000 after acquiring an additional 164,945 shares during the period. Freemont Capital Pte Ltd bought a new stake in International Flavors & Fragrances in the 4th quarter valued at $2,143,882,000. Geode Capital Management LLC raised its stake in International Flavors & Fragrances by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 6,166,778 shares of the specialty chemicals company’s stock valued at $520,032,000 after acquiring an additional 157,948 shares during the period. Finally, Norges Bank bought a new stake in International Flavors & Fragrances in the 4th quarter valued at $452,363,000. Institutional investors own 96.02% of the company’s stock.

Insider Activity

In other International Flavors & Fragrances news, CEO J Erik Fyrwald acquired 700 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $74.00 per share, with a total value of $51,800.00. Following the completion of the purchase, the chief executive officer now directly owns 37,770 shares of the company’s stock, valued at $2,794,980. This represents a 1.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Beril Yildiz sold 2,400 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $77.33, for a total value of $185,592.00. Following the transaction, the chief accounting officer now directly owns 3,321 shares of the company’s stock, valued at approximately $256,812.93. The trade was a 41.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 22,050 shares of company stock worth $1,688,512. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Down 0.3%

Shares of NYSE IFF opened at $74.80 on Thursday. The stock has a market capitalization of $19.13 billion, a P/E ratio of -22.87, a PEG ratio of 3.34 and a beta of 1.05. The stock’s fifty day moving average is $75.96 and its 200 day moving average is $80.37. International Flavors & Fragrances Inc. has a 52 week low of $65.85 and a 52 week high of $106.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results 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 negative net margin of 7.31% and a positive return on equity of 7.99%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the firm earned $1.13 EPS. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, June 20th. International Flavors & Fragrances’s dividend payout ratio is presently -48.93%.

Wall Street Analysts Forecast Growth

IFF has been the topic of a number of research analyst reports. Tigress Financial initiated coverage on International Flavors & Fragrances in a research note on Wednesday, June 4th. They issued a “buy” rating and a $105.00 price target on the stock. Oppenheimer reduced their target price on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Barclays raised shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. Citigroup lifted their target price on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company reduced their target price on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.43.

International Flavors & Fragrances Company 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.