International Flavors & Fragrances Inc. (NYSE:IFF) Position Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,693,352 shares of the specialty chemicals company's stock after selling 185,965 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of International Flavors & Fragrances worth $131,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IFF. Freemont Capital Pte Ltd purchased a new position in International Flavors & Fragrances during the fourth quarter worth about $2,143,882,000. Norges Bank purchased a new position in International Flavors & Fragrances during the fourth quarter worth about $452,363,000. Dodge & Cox lifted its position in International Flavors & Fragrances by 11.9% during the fourth quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock worth $2,658,063,000 after buying an additional 3,355,381 shares during the period. Northern Trust Corp lifted its position in International Flavors & Fragrances by 19.9% during the fourth quarter. Northern Trust Corp now owns 3,407,262 shares of the specialty chemicals company's stock worth $288,084,000 after buying an additional 565,769 shares during the period. Finally, GAMMA Investing LLC increased its stake in International Flavors & Fragrances by 6,831.5% during the first quarter. GAMMA Investing LLC now owns 556,464 shares of the specialty chemicals company's stock worth $431,870,000 after acquiring an additional 548,436 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Down 0.8%

Shares of IFF stock traded down $0.63 during trading hours on Friday, reaching $75.99. The company had a trading volume of 1,099,346 shares, compared to its average volume of 1,536,821. The company has a market capitalization of $19.44 billion, a P/E ratio of -23.24, a price-to-earnings-growth ratio of 3.38 and a beta of 1.04. International Flavors & Fragrances Inc. has a twelve month low of $65.85 and a twelve month high of $106.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87. The stock's fifty day simple moving average is $76.05 and its 200 day simple moving average is $78.86.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.08. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 7.99% and a negative net margin of 7.31%. International Flavors & Fragrances's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 earnings per share. As a group, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 20th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, June 20th. International Flavors & Fragrances's dividend payout ratio is currently -48.93%.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, CAO Beril Yildiz sold 2,400 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $77.33, for a total transaction of $185,592.00. Following the transaction, the chief accounting officer owned 3,321 shares of the company's stock, valued at $256,812.93. This trade represents a 41.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hernandez Margarita Palau bought 850 shares of International Flavors & Fragrances stock in a transaction on Monday, May 19th. The shares were purchased at an average cost of $77.42 per share, for a total transaction of $65,807.00. Following the acquisition, the director owned 2,393 shares in the company, valued at $185,266.06. The trade was a 55.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 22,050 shares of company stock valued at $1,688,512 in the last three months. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IFF has been the subject of several research analyst reports. Robert W. Baird dropped their price target on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. UBS Group upped their price target on International Flavors & Fragrances from $82.00 to $83.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Stifel Nicolaus dropped their price target on International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Tigress Financial initiated coverage on International Flavors & Fragrances in a research note on Wednesday, June 4th. They set a "buy" rating and a $105.00 price target for the company. Finally, Morgan Stanley dropped their price target on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $93.43.

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.