Hartford Investment Management Co. Lowers Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Hartford Investment Management Co. cut its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,074 shares of the specialty chemicals company’s stock after selling 264 shares during the quarter. Hartford Investment Management Co.’s holdings in International Flavors & Fragrances were worth $1,687,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in International Flavors & Fragrances by 6.7% in the first quarter. Park Avenue Securities LLC now owns 6,782 shares of the specialty chemicals company’s stock worth $583,000 after purchasing an additional 428 shares in the last quarter. Riverview Trust Co purchased a new stake in International Flavors & Fragrances during the first quarter valued at approximately $27,000. S.E.E.D. Planning Group LLC boosted its stake in International Flavors & Fragrances by 72.9% in the first quarter. S.E.E.D. Planning Group LLC now owns 7,265 shares of the specialty chemicals company’s stock valued at $625,000 after acquiring an additional 3,062 shares in the last quarter. BKM Wealth Management LLC grew its holdings in International Flavors & Fragrances by 50.3% in the first quarter. BKM Wealth Management LLC now owns 4,003 shares of the specialty chemicals company’s stock worth $344,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of International Flavors & Fragrances by 8.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 650,879 shares of the specialty chemicals company’s stock worth $55,969,000 after purchasing an additional 49,614 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IFF. UBS Group dropped their target price on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Oppenheimer increased their price objective on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Barclays boosted their target price on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on shares of International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Citigroup upped their target price 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.86.

International Flavors & Fragrances Stock Down 1.4 %

International Flavors & Fragrances stock opened at $102.45 on Friday. The business’s 50-day moving average price is $102.83 and its 200 day moving average price is $97.09. 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 firm has a market cap of $26.16 billion, a price-to-earnings ratio of -10.49, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22. International Flavors & Fragrances Inc. has a 52 week low of $63.21 and a 52 week high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data 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 negative net margin of 20.82% and a positive return on equity of 6.63%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Friday, September 20th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, September 20th. International Flavors & Fragrances’s 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.