International Flavors & Fragrances Inc. (NYSE:IFF) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 12.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,586 shares of the specialty chemicals company’s stock after selling 22,502 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of International Flavors & Fragrances worth $14,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. grew its stake in shares of International Flavors & Fragrances by 139.3% during the fourth quarter. Nomura Holdings Inc. now owns 1,372,685 shares of the specialty chemicals company’s stock valued at $111,146,000 after acquiring an additional 798,946 shares in the last quarter. Ilex Capital Partners UK LLP grew its stake in International Flavors & Fragrances by 344.5% during the 1st quarter. Ilex Capital Partners UK LLP now owns 847,504 shares of the specialty chemicals company’s stock valued at $72,877,000 after purchasing an additional 656,820 shares in the last quarter. Albar Capital Ltd increased its holdings in International Flavors & Fragrances by 73.5% during the 2nd quarter. Albar Capital Ltd now owns 1,146,234 shares of the specialty chemicals company’s stock worth $109,133,000 after purchasing an additional 485,433 shares during the last quarter. Clearfield Capital Management LP acquired a new position in shares of International Flavors & Fragrances in the 4th quarter valued at approximately $28,771,000. Finally, Van ECK Associates Corp boosted its stake in shares of International Flavors & Fragrances by 7.8% during the 1st quarter. Van ECK Associates Corp now owns 4,778,678 shares of the specialty chemicals company’s stock valued at $410,919,000 after buying an additional 344,377 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IFF has been the topic of several recent analyst reports. Morgan Stanley upped their price target on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a report on Wednesday, July 3rd. 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 note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Stifel Nicolaus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $115.00 in a research report on Monday, July 22nd. Finally, Citigroup upped their price target on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $103.87.

International Flavors & Fragrances Stock Performance

IFF opened at $103.04 on Thursday. International Flavors & Fragrances Inc. has a twelve month low of $62.28 and a twelve month high of $105.96. The stock has a market cap of $26.31 billion, a PE ratio of -10.55, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The business’s 50 day moving average is $100.89 and its 200-day moving average is $95.04. 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 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 company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. On average, analysts predict that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 20th. This represents a $1.60 annualized dividend and a yield of 1.55%. International Flavors & Fragrances’s payout ratio is -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.