First City Capital Management Inc. Cuts Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

First City Capital Management Inc. trimmed its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 27.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,975 shares of the specialty chemicals company’s stock after selling 1,150 shares during the quarter. First City Capital Management Inc.’s holdings in International Flavors & Fragrances were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in IFF. Principal Securities Inc. purchased a new stake in International Flavors & Fragrances in the 4th quarter valued at about $43,000. Norges Bank purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $79,812,000. Dynamic Technology Lab Private Ltd bought a new stake in International Flavors & Fragrances during the fourth quarter worth $228,000. Coldstream Capital Management Inc. boosted its position in International Flavors & Fragrances by 23.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,832 shares of the specialty chemicals company’s stock worth $310,000 after purchasing an additional 730 shares during the last quarter. Finally, Assetmark Inc. grew its stake in International Flavors & Fragrances by 2.9% in the 4th quarter. Assetmark Inc. now owns 10,866 shares of the specialty chemicals company’s stock valued at $880,000 after purchasing an additional 310 shares during the period. Institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group cut their price target on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Morgan Stanley increased their target price on shares of 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. Wells Fargo & Company raised their price target on shares of 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. boosted their target price 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. Finally, Citigroup lifted their price objective on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $103.87.

International Flavors & Fragrances Stock Performance

NYSE IFF opened at $102.23 on Friday. The company’s 50 day simple moving average is $99.80 and its two-hundred day simple moving average is $93.72. The stock has a market capitalization of $26.10 billion, a PE ratio of -10.46, a P/E/G 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.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.86 EPS. Analysts predict that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders 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 1.57%. The ex-dividend date of this dividend is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) 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.