The Manufacturers Life Insurance Company Reduces Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

The Manufacturers Life Insurance Company lessened its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 150,993 shares of the specialty chemicals company’s stock after selling 3,593 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of International Flavors & Fragrances worth $15,844,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of IFF. Burney Co. acquired a new position in International Flavors & Fragrances in the 1st quarter valued at about $202,000. Cetera Investment Advisers lifted its stake in shares of International Flavors & Fragrances by 69.5% in the 1st quarter. Cetera Investment Advisers now owns 56,751 shares of the specialty chemicals company’s stock valued at $4,880,000 after purchasing an additional 23,278 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of International Flavors & Fragrances during the 1st quarter worth $693,000. DekaBank Deutsche Girozentrale lifted its position in International Flavors & Fragrances by 7.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 63,004 shares of the specialty chemicals company’s stock valued at $5,370,000 after buying an additional 4,189 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in International Flavors & Fragrances by 18.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 863 shares of the specialty chemicals company’s stock worth $82,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley raised shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $111.00 to $110.00 in a research report on Tuesday, November 12th. Stifel Nicolaus lifted their price objective on International Flavors & Fragrances from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group increased their target price on International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a research report on Thursday, November 7th. Finally, Barclays raised their price objective on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, International Flavors & Fragrances has an average rating of “Moderate Buy” and an average price target of $111.00.

Insider Buying and Selling at International Flavors & Fragrances

In related news, insider Yuvraj Arora sold 5,000 shares of International Flavors & Fragrances stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $91.75, for a total transaction of $458,750.00. Following the completion of the sale, the insider now owns 3,238 shares in the company, valued at approximately $297,086.50. This trade represents a 60.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF opened at $91.36 on Monday. The company’s fifty day moving average is $98.08 and its two-hundred day moving average is $98.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.93 and a current ratio of 2.62. The firm has a market capitalization of $23.36 billion, a P/E ratio of -10.05, a PEG ratio of 1.61 and a beta of 1.22. International Flavors & Fragrances Inc. has a one year low of $72.94 and a one year high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46). International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts forecast that International Flavors & Fragrances Inc. will post 4.16 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -17.60%.

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.