Bank of Nova Scotia cut its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 10.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,578 shares of the specialty chemicals company's stock after selling 3,820 shares during the quarter. Bank of Nova Scotia's holdings in International Flavors & Fragrances were worth $2,528,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the business. Blueshift Asset Management LLC purchased a new stake in International Flavors & Fragrances during the 1st quarter valued at approximately $382,000. Jefferies Financial Group Inc. raised its stake in shares of International Flavors & Fragrances by 65.7% during the first quarter. Jefferies Financial Group Inc. now owns 22,867 shares of the specialty chemicals company's stock worth $1,775,000 after purchasing an additional 9,067 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of International Flavors & Fragrances by 14.4% during the first quarter. Natixis Advisors LLC now owns 207,488 shares of the specialty chemicals company's stock worth $16,103,000 after purchasing an additional 26,184 shares during the period. Bayforest Capital Ltd increased its stake in International Flavors & Fragrances by 121.0% in the 1st quarter. Bayforest Capital Ltd now owns 4,047 shares of the specialty chemicals company's stock valued at $314,000 after buying an additional 2,216 shares during the period. Finally, XTX Topco Ltd raised its position in International Flavors & Fragrances by 519.5% during the 1st quarter. XTX Topco Ltd now owns 15,282 shares of the specialty chemicals company's stock worth $1,186,000 after buying an additional 12,815 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.
Insider Activity at International Flavors & Fragrances
In other International Flavors & Fragrances news, CAO Beril Yildiz sold 2,400 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $77.33, for a total transaction of $185,592.00. Following the completion of the sale, the chief accounting officer owned 3,321 shares of the company's stock, valued at approximately $256,812.93. The trade was a 41.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen N. Landsman acquired 12,000 shares of the business's stock in a transaction dated Monday, May 19th. The stock was purchased at an average price of $77.28 per share, for a total transaction of $927,360.00. Following the completion of the acquisition, the executive vice president owned 12,000 shares in the company, valued at approximately $927,360. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 36,650 shares of company stock valued at $2,630,447 over the last 90 days. 0.20% of the stock is currently owned by insiders.
International Flavors & Fragrances Trading Down 3.0%
Shares of NYSE IFF traded down $1.96 during midday trading on Thursday, reaching $64.21. 4,930,931 shares of the stock were exchanged, compared to its average volume of 1,902,042. The stock has a 50 day moving average price of $74.91 and a 200-day moving average price of $77.54. The company has a current ratio of 1.86, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $16.46 billion, a P/E ratio of -41.42, a P/E/G ratio of 2.93 and a beta of 1.04. International Flavors & Fragrances Inc. has a 52-week low of $63.71 and a 52-week high of $106.77.
International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.11 by $0.04. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same period in the previous year, the company earned $1.16 EPS. International Flavors & Fragrances's revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.
International Flavors & Fragrances Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -103.23%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on IFF. UBS Group dropped their price target on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Wednesday. Morgan Stanley dropped their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price target on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday. Citigroup upped their price objective on International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Robert W. Baird reduced their target price on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $92.79.
View Our Latest Research Report on IFF
About International Flavors & Fragrances
(
Free Report)
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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