Bank of Montreal Can Cuts Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Bank of Montreal Can cut its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 32.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 240,739 shares of the specialty chemicals company’s stock after selling 117,328 shares during the quarter. Bank of Montreal Can’s holdings in International Flavors & Fragrances were worth $23,181,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IFF. Riverview Trust Co purchased a new stake in shares of International Flavors & Fragrances during the 1st quarter worth about $27,000. Quent Capital LLC raised its holdings in International Flavors & Fragrances by 183.2% in the 1st quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 240 shares during the period. Family Firm Inc. purchased a new position in International Flavors & Fragrances during the second quarter worth approximately $38,000. Fidelis Capital Partners LLC acquired a new stake in International Flavors & Fragrances in the first quarter valued at approximately $44,000. Finally, Larson Financial Group LLC increased its position in shares of 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 buying an additional 505 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Citigroup lifted their target price on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Mizuho upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Wells Fargo & Company lifted their price objective on International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $115.00 in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Hold” and an average price target of $103.87.

International Flavors & Fragrances Trading Up 0.4 %

Shares of IFF stock opened at $105.10 on Friday. 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 Inc. has a twelve month low of $62.28 and a twelve month high of $105.61. The company’s 50-day moving average price is $100.57 and its 200-day moving average price is $94.50. The stock has a market cap of $26.84 billion, a price-to-earnings ratio of -10.76, a PEG ratio of 1.85 and a beta of 1.22.

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, beating the consensus estimate of $1.01 by $0.15. The company 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%. International Flavors & Fragrances’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. As a group, equities analysts predict that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.52%. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

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.