New York State Teachers Retirement System Sells 4,952 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

New York State Teachers Retirement System lowered its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 222,755 shares of the specialty chemicals company’s stock after selling 4,952 shares during the quarter. New York State Teachers Retirement System’s holdings in International Flavors & Fragrances were worth $23,374,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Adams Natural Resources Fund Inc. lifted its stake in International Flavors & Fragrances by 212.3% during the third quarter. Adams Natural Resources Fund Inc. now owns 65,606 shares of the specialty chemicals company’s stock worth $6,884,000 after purchasing an additional 44,600 shares during the last quarter. Adams Diversified Equity Fund Inc. bought a new stake in shares of International Flavors & Fragrances in the 3rd quarter valued at about $7,104,000. Pathway Financial Advisers LLC lifted its stake in shares of International Flavors & Fragrances by 57.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 27,016 shares of the specialty chemicals company’s stock valued at $2,835,000 after acquiring an additional 9,835 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in shares of International Flavors & Fragrances by 1.9% in the 3rd quarter. Integrated Advisors Network LLC now owns 5,720 shares of the specialty chemicals company’s stock valued at $600,000 after acquiring an additional 107 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of International Flavors & Fragrances by 4.5% in the 3rd quarter. abrdn plc now owns 323,241 shares of the specialty chemicals company’s stock valued at $33,727,000 after acquiring an additional 13,972 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

IFF has been the subject of a number of recent research reports. Mizuho raised International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $109.00 to $120.00 in a research note on Tuesday, September 3rd. Stifel Nicolaus boosted their price target on International Flavors & Fragrances from $115.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Citigroup boosted their price target on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their price target on International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Oppenheimer boosted their price target on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.86.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $99.43 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average price is $103.02 and its 200-day moving average price is $97.63. International Flavors & Fragrances Inc. has a 52 week low of $65.81 and a 52 week high of $106.77. The stock has a market cap of $25.42 billion, a P/E ratio of -10.78, a P/E/G ratio of 1.86 and a beta of 1.22.

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

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a $0.40 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.61%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -17.35%.

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.