Mackenzie Financial Corp Sells 1,018 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Mackenzie Financial Corp lessened its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 4.6% during the second quarter, Holdings Channel reports. The fund owned 21,341 shares of the specialty chemicals company’s stock after selling 1,018 shares during the period. Mackenzie Financial Corp’s holdings in International Flavors & Fragrances were worth $2,032,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in shares of International Flavors & Fragrances during the 1st quarter valued at about $27,000. Quent Capital LLC raised its stake in shares of International Flavors & Fragrances by 183.2% during the first 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. bought a new stake in shares of International Flavors & Fragrances in the 2nd quarter worth approximately $38,000. Fidelis Capital Partners LLC purchased a new stake in shares of International Flavors & Fragrances in the 1st quarter valued at $44,000. Finally, Larson Financial Group LLC raised its position in International Flavors & Fragrances by 5,050.0% in the 1st quarter. Larson Financial Group LLC now owns 515 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 505 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 0.1 %

IFF stock opened at $103.04 on Thursday. The company has a market capitalization of $26.31 billion, a price-to-earnings ratio of -10.55, 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 quick ratio of 1.75 and a current ratio of 2.38. The business’s 50 day moving average price is $100.89 and its two-hundred day moving average price is $95.04. International Flavors & Fragrances Inc. has a fifty-two week low of $62.28 and a fifty-two week high of $105.96.

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 for the quarter, topping the consensus estimate of $1.01 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, analysts forecast 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, October 9th. Investors of record on Friday, September 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, September 20th. International Flavors & Fragrances’s payout ratio is currently -16.38%.

Analysts Set New Price Targets

IFF has been the subject of several analyst reports. Mizuho upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and upped their price target for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Oppenheimer lifted their target price on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their price target on shares of International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their price objective on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley increased their target price on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Hold” and an average price target of $103.87.

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.