Barclays PLC Sells 198,458 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Posted by Defense World Staff on Aug 5th, 2023

Barclays PLC reduced its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 37.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 327,850 shares of the specialty chemicals company’s stock after selling 198,458 shares during the period. Barclays PLC owned about 0.13% of International Flavors & Fragrances worth $30,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. lifted its stake in International Flavors & Fragrances by 11.7% in the first quarter. Fairfield Bush & CO. now owns 4,791 shares of the specialty chemicals company’s stock valued at $629,000 after buying an additional 500 shares during the period. American Century Companies Inc. boosted its holdings in shares of International Flavors & Fragrances by 19.8% in the 1st quarter. American Century Companies Inc. now owns 3,380 shares of the specialty chemicals company’s stock worth $444,000 after buying an additional 558 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of International Flavors & Fragrances by 10.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,844 shares of the specialty chemicals company’s stock worth $767,000 after buying an additional 574 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of International Flavors & Fragrances by 2.4% in the 1st quarter. Raymond James Trust N.A. now owns 3,792 shares of the specialty chemicals company’s stock worth $498,000 after buying an additional 90 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in International Flavors & Fragrances by 31.5% in the 1st quarter. Vontobel Holding Ltd. now owns 3,684 shares of the specialty chemicals company’s stock valued at $483,000 after acquiring an additional 883 shares during the period. 90.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IFF shares. Citigroup initiated coverage on International Flavors & Fragrances in a research note on Tuesday, June 13th. They issued a “neutral” rating and a $84.00 price objective on the stock. Morgan Stanley reduced their price target on shares of International Flavors & Fragrances from $122.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, June 30th. Barclays reduced their price target on shares of International Flavors & Fragrances from $81.00 to $75.00 in a research report on Thursday, May 11th. StockNews.com assumed coverage on shares of International Flavors & Fragrances in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, UBS Group dropped their price target on International Flavors & Fragrances from $128.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $109.93.

International Flavors & Fragrances Price Performance

NYSE IFF opened at $80.50 on Friday. International Flavors & Fragrances Inc. has a one year low of $75.18 and a one year high of $129.20. The stock has a 50-day moving average of $80.28 and a 200 day moving average of $89.51. The company has a market capitalization of $20.53 billion, a price-to-earnings ratio of -9.79, a PEG ratio of 4.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.53.

International Flavors & Fragrances (NYSE:IFF – Get Free Report) last released its quarterly earnings data on Monday, May 8th. The specialty chemicals company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.02). The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. International Flavors & Fragrances had a positive return on equity of 6.64% and a negative net margin of 17.12%. International Flavors & Fragrances’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 earnings per share. On average, sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, insider De Villeplee Christoph Fauchon sold 1,972 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $86.35, for a total transaction of $170,282.20. Following the completion of the sale, the insider now directly owns 9,093 shares in the company, valued at approximately $785,180.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

About International Flavors & Fragrances

(Free Report)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.