Citigroup Inc. Reduces Stock Position in International Flavors & Fragrances Inc. $IFF

Citigroup Inc. decreased its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 39.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 299,090 shares of the specialty chemicals company’s stock after selling 195,312 shares during the quarter. Citigroup Inc. owned about 0.12% of International Flavors & Fragrances worth $18,406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of IFF. Tredje AP fonden increased its position in International Flavors & Fragrances by 53.9% during the third quarter. Tredje AP fonden now owns 50,952 shares of the specialty chemicals company’s stock worth $3,136,000 after purchasing an additional 17,851 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its holdings in International Flavors & Fragrances by 27.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 122,886 shares of the specialty chemicals company’s stock valued at $7,562,000 after acquiring an additional 26,400 shares during the last quarter. CenterBook Partners LP purchased a new position in International Flavors & Fragrances in the third quarter worth approximately $813,000. NEOS Investment Management LLC grew its holdings in shares of International Flavors & Fragrances by 54.3% during the 3rd quarter. NEOS Investment Management LLC now owns 26,630 shares of the specialty chemicals company’s stock worth $1,639,000 after purchasing an additional 9,367 shares during the period. Finally, Rothschild Investment LLC increased its position in shares of International Flavors & Fragrances by 18.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,392 shares of the specialty chemicals company’s stock worth $86,000 after purchasing an additional 215 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

International Flavors & Fragrances Trading Up 1.3%

Shares of International Flavors & Fragrances stock opened at $80.89 on Friday. 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 company has a fifty day simple moving average of $72.78 and a 200-day simple moving average of $67.49. The stock has a market cap of $20.72 billion, a price-to-earnings ratio of -59.04, a PEG ratio of 2.08 and a beta of 1.05. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.52 billion. International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. International Flavors & Fragrances’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.97 earnings per share. On average, equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted 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. Berenberg Bank lowered their price target on International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating for the company in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Sunday, January 4th. Citigroup upped their price objective on International Flavors & Fragrances from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, UBS Group upped their price target on International Flavors & Fragrances from $71.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.17.

International Flavors & Fragrances Profile

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.