CIBC Asset Management Inc Sells 1,759 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

CIBC Asset Management Inc decreased its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 4.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 34,378 shares of the specialty chemicals company’s stock after selling 1,759 shares during the period. CIBC Asset Management Inc’s holdings in International Flavors & Fragrances were worth $3,273,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in International Flavors & Fragrances during the fourth quarter valued at approximately $380,000. Natixis Advisors L.P. grew its position in shares of International Flavors & Fragrances by 28.7% during the 4th quarter. Natixis Advisors L.P. now owns 126,027 shares of the specialty chemicals company’s stock valued at $10,204,000 after purchasing an additional 28,114 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of International Flavors & Fragrances by 9.0% in the fourth quarter. Private Advisor Group LLC now owns 16,260 shares of the specialty chemicals company’s stock worth $1,317,000 after purchasing an additional 1,344 shares during the period. Apollon Wealth Management LLC bought a new stake in International Flavors & Fragrances during the fourth quarter valued at $598,000. Finally, Charles Schwab Investment Management Inc. grew its position in International Flavors & Fragrances by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,414,582 shares of the specialty chemicals company’s stock worth $114,539,000 after buying an additional 51,143 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Insiders Place Their Bets

In other news, insider Angela Strzelecki sold 2,588 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total transaction of $247,568.08. Following the transaction, the insider now directly owns 8,539 shares of the company’s stock, valued at $816,840.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $102.67 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38. International Flavors & Fragrances Inc. has a fifty-two week low of $62.28 and a fifty-two week high of $105.30. The firm has a market cap of $26.22 billion, a PE ratio of -10.51, a price-to-earnings-growth ratio of 1.87 and a beta of 1.22. The business has a 50 day moving average price of $98.17 and a 200-day moving average price of $91.63.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. Equities research analysts predict that International Flavors & Fragrances Inc. will post 4.21 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, September 20th. International Flavors & Fragrances’s payout ratio is -16.38%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IFF shares. Mizuho raised International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and raised their price target for the company from $109.00 to $120.00 in a report on Tuesday. UBS Group dropped their target price 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. Stifel Nicolaus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and upped their target price for the stock from $95.00 to $115.00 in a research report on Monday, July 22nd. Bank of America raised their price target 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. Finally, JPMorgan Chase & Co. upped their price objective on International Flavors & Fragrances from $100.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $103.27.

International Flavors & Fragrances 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.