Raymond James & Associates Lowers Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Raymond James & Associates reduced its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 19.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,548 shares of the specialty chemicals company’s stock after selling 30,165 shares during the quarter. Raymond James & Associates’ holdings in International Flavors & Fragrances were worth $12,144,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of IFF. International Assets Investment Management LLC bought a new position in International Flavors & Fragrances during the fourth quarter valued at approximately $380,000. Cerity Partners LLC purchased a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at $235,000. CWM LLC grew its holdings in shares of International Flavors & Fragrances by 29.3% during the 4th quarter. CWM LLC now owns 6,430 shares of the specialty chemicals company’s stock valued at $521,000 after purchasing an additional 1,458 shares during the last quarter. OLD National Bancorp IN purchased a new position in International Flavors & Fragrances in the 4th quarter worth $207,000. Finally, Atria Wealth Solutions Inc. lifted its stake in International Flavors & Fragrances by 3.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 8,682 shares of the specialty chemicals company’s stock worth $710,000 after purchasing an additional 319 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Angela Strzelecki sold 2,588 shares of International Flavors & Fragrances stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $95.66, for a total transaction of $247,568.08. Following the completion of the transaction, the insider now directly owns 8,539 shares of the company’s stock, valued at approximately $816,840.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF opened at $100.08 on Friday. International Flavors & Fragrances Inc. has a 1 year low of $62.28 and a 1 year high of $101.89. The stock has a market capitalization of $25.56 billion, a P/E ratio of -10.24, a P/E/G ratio of 1.95 and a beta of 1.26. The company’s 50-day moving average is $96.98 and its 200 day moving average is $90.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 1.05.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 5.78% and a negative net margin of 22.01%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 3.98 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley lifted their price objective on International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 3rd. Bank of America boosted their price objective on International Flavors & Fragrances from $87.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. Mizuho raised their target price on shares of International Flavors & Fragrances from $91.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Robert W. Baird upped their price target on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, UBS Group dropped their price target on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.80.

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.