International Flavors & Fragrances Inc. (NYSE:IFF) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 12.1% during the second quarter, Holdings Channel.com reports. The firm owned 53,800 shares of the specialty chemicals company’s stock after selling 7,400 shares during the period. Gabelli Funds LLC’s holdings in International Flavors & Fragrances were worth $5,122,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Riverview Trust Co purchased a new position in International Flavors & Fragrances in the first quarter valued at $27,000. Quent Capital LLC boosted its position in shares of International Flavors & Fragrances by 183.2% during the 1st quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 240 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of International Flavors & Fragrances during the 2nd quarter worth about $38,000. Fidelis Capital Partners LLC purchased a new stake in International Flavors & Fragrances during the first quarter worth approximately $44,000. Finally, Larson Financial Group LLC boosted its holdings in International Flavors & Fragrances by 5,050.0% in the first quarter. Larson Financial Group LLC now owns 515 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 505 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IFF has been the topic of a number of research analyst reports. Oppenheimer raised their price objective on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Mizuho raised shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Citigroup lifted their target price on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Morgan Stanley upped their target price on International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company lifted their price target on International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, International Flavors & Fragrances has an average rating of “Hold” and an average price target of $103.87.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $104.59 on Wednesday. The firm has a market cap of $26.71 billion, a price-to-earnings ratio of -10.71, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75. International Flavors & Fragrances Inc. has a 1-year low of $62.28 and a 1-year high of $105.30. The firm’s fifty day moving average price is $100.08 and its 200 day moving average price is $94.19.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.23 EPS 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. Stockholders of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.53%. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

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.