Garner Asset Management Corp Lowers Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Garner Asset Management Corp trimmed its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,409 shares of the specialty chemicals company’s stock after selling 192 shares during the quarter. Garner Asset Management Corp’s holdings in International Flavors & Fragrances were worth $420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IFF. International Assets Investment Management LLC purchased a new position in International Flavors & Fragrances in the 4th quarter worth approximately $380,000. Principal Securities Inc. bought a new stake in shares of International Flavors & Fragrances in the 4th quarter worth $43,000. Quadrant Capital Group LLC lifted its holdings in shares of International Flavors & Fragrances by 26.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,854 shares of the specialty chemicals company’s stock valued at $150,000 after purchasing an additional 393 shares in the last quarter. Norges Bank purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at $79,812,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in International Flavors & Fragrances in the 4th quarter worth about $228,000. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Price Performance

NYSE IFF opened at $103.46 on Thursday. The stock has a market cap of $26.42 billion, a price-to-earnings ratio of -10.59, a PEG ratio of 1.85 and a beta of 1.22. International Flavors & Fragrances Inc. has a 12 month low of $62.28 and a 12 month high of $105.30. The company’s 50 day moving average is $99.47 and its two-hundred day moving average is $93.28. The company has a current ratio of 2.38, a quick ratio of 1.75 and a debt-to-equity ratio of 0.60.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. International Flavors & Fragrances’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. As a group, research analysts anticipate that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors 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 dividend yield of 1.55%. The ex-dividend date is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Mizuho upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $109.00 to $120.00 in a report on Tuesday, September 3rd. UBS Group decreased 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 note on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Morgan Stanley increased their target price on International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $103.87.

About International Flavors & Fragrances

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.