Hartford Investment Management Co. trimmed its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Get Rating) by 46.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,126 shares of the specialty chemicals company’s stock after selling 16,665 shares during the period. Hartford Investment Management Co.’s holdings in International Flavors & Fragrances were worth $2,005,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Riverview Trust Co grew its holdings in International Flavors & Fragrances by 64.1% during the 3rd quarter. Riverview Trust Co now owns 274 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 107 shares during the period. Asset Dedication LLC acquired a new stake in shares of International Flavors & Fragrances during the third quarter worth $25,000. CI Investments Inc. increased its holdings in International Flavors & Fragrances by 1,003.2% in the third quarter. CI Investments Inc. now owns 342 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 311 shares during the last quarter. Covestor Ltd lifted its stake in International Flavors & Fragrances by 48.8% in the first quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 80 shares during the period. Finally, Evermay Wealth Management LLC acquired a new position in International Flavors & Fragrances in the fourth quarter valued at about $41,000. 88.86% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on IFF shares. Citigroup upped their price target on International Flavors & Fragrances from $100.00 to $114.00 in a research note on Thursday, December 15th. Credit Suisse Group cut their target price on shares of International Flavors & Fragrances from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 9th. StockNews.com initiated coverage on shares of International Flavors & Fragrances in a report on Thursday, March 16th. They issued a “sell” rating for the company. UBS Group dropped their price objective on International Flavors & Fragrances from $132.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, February 9th. Finally, Wells Fargo & Company decreased their target price on International Flavors & Fragrances from $123.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, February 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, International Flavors & Fragrances has a consensus rating of “Hold” and an average price target of $115.47.
International Flavors & Fragrances Stock Performance
International Flavors & Fragrances (NYSE:IFF – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The specialty chemicals company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.89 billion. International Flavors & Fragrances had a negative net margin of 14.81% and a positive return on equity of 7.46%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. Equities research analysts expect that International Flavors & Fragrances Inc. will post 4.83 EPS for the current fiscal year.
International Flavors & Fragrances Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Friday, March 24th will be paid a $0.81 dividend. The ex-dividend date is Thursday, March 23rd. This represents a $3.24 dividend on an annualized basis and a yield of 3.58%. International Flavors & Fragrances’s dividend payout ratio is -44.88%.
International Flavors & Fragrances Profile
International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.
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