PNC Financial Services Group Inc. Decreases Holdings in International Flavors & Fragrances Inc. $IFF

PNC Financial Services Group Inc. reduced its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 28.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 26,493 shares of the specialty chemicals company’s stock after selling 10,448 shares during the quarter. PNC Financial Services Group Inc.’s holdings in International Flavors & Fragrances were worth $1,630,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. True Wealth Design LLC boosted its stake in International Flavors & Fragrances by 896.4% in the third quarter. True Wealth Design LLC now owns 548 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 493 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 210 shares during the period. Elkhorn Partners Limited Partnership grew its holdings in International Flavors & Fragrances by 200.0% during the second quarter. Elkhorn Partners Limited Partnership now owns 600 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 400 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in International Flavors & Fragrances in the second quarter worth $49,000. Finally, Transamerica Financial Advisors LLC raised its stake in shares of International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

International Flavors & Fragrances stock opened at $81.37 on Monday. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $84.45. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $20.84 billion, a PE ratio of -59.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The firm’s 50 day simple moving average is $71.47 and its 200 day simple moving average is $67.05.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was down 6.6% 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IFF shares. Wells Fargo & Company increased their price target on International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Wall Street Zen upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of International Flavors & Fragrances from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Argus raised their price objective on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Berenberg Bank lowered their target price on shares of International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating on the stock in a report on Thursday, February 5th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.17.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.