Centre Asset Management LLC Trims Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Centre Asset Management LLC lowered its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,546 shares of the specialty chemicals company's stock after selling 8,183 shares during the period. International Flavors & Fragrances makes up about 2.3% of Centre Asset Management LLC's holdings, making the stock its 13th biggest position. Centre Asset Management LLC's holdings in International Flavors & Fragrances were worth $9,045,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IFF. Freemont Capital Pte Ltd bought a new position in International Flavors & Fragrances in the fourth quarter worth approximately $2,143,882,000. Norges Bank bought a new position in International Flavors & Fragrances in the fourth quarter worth approximately $452,363,000. Dodge & Cox boosted its holdings in International Flavors & Fragrances by 11.9% in the fourth quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock worth $2,658,063,000 after acquiring an additional 3,355,381 shares in the last quarter. Van ECK Associates Corp boosted its holdings in International Flavors & Fragrances by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 5,664,250 shares of the specialty chemicals company's stock worth $478,912,000 after acquiring an additional 1,663,629 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in International Flavors & Fragrances by 19.9% in the fourth quarter. Northern Trust Corp now owns 3,407,262 shares of the specialty chemicals company's stock worth $288,084,000 after acquiring an additional 565,769 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IFF shares. Citigroup increased their price target on International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. UBS Group lifted their target price on International Flavors & Fragrances from $82.00 to $83.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Robert W. Baird cut their target price on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Cfra cut International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 target price on the stock. in a research report on Thursday, February 20th. Finally, Stifel Nicolaus cut their target price on International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.54.

Insider Activity

In related news, Director Kevin O'byrne purchased 6,500 shares of International Flavors & Fragrances stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $80.44 per share, for a total transaction of $522,860.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $522,860. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Erik Fyrwald purchased 700 shares of International Flavors & Fragrances stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $74.00 per share, with a total value of $51,800.00. Following the completion of the transaction, the chief executive officer now owns 37,770 shares of the company's stock, valued at $2,794,980. This represents a 1.89% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 28,550 shares of company stock worth $2,211,372. 0.20% of the stock is owned by corporate insiders.

International Flavors & Fragrances Stock Performance

NYSE:IFF traded down $1.14 during trading hours on Monday, reaching $75.43. The stock had a trading volume of 441,837 shares, compared to its average volume of 1,518,612. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84. The stock has a 50 day simple moving average of $75.27 and a 200 day simple moving average of $81.39. International Flavors & Fragrances Inc. has a 12-month low of $65.85 and a 12-month high of $106.77. The stock has a market cap of $19.29 billion, a P/E ratio of 80.29, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.08. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the business posted $1.13 earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis. On average, research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, June 20th. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -48.93%.

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.