Cresset Asset Management LLC Cuts Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Cresset Asset Management LLC trimmed its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 92.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,482 shares of the specialty chemicals company's stock after selling 28,365 shares during the period. Cresset Asset Management LLC's holdings in International Flavors & Fragrances were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. UMB Bank n.a. increased its stake in International Flavors & Fragrances by 8.9% during the fourth quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company's stock worth $123,000 after acquiring an additional 119 shares during the last quarter. Truist Financial Corp lifted its position in International Flavors & Fragrances by 0.7% in the fourth quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company's stock worth $1,683,000 after buying an additional 129 shares during the last quarter. Wahed Invest LLC raised its stake in shares of International Flavors & Fragrances by 2.1% in the fourth quarter. Wahed Invest LLC now owns 6,339 shares of the specialty chemicals company's stock valued at $536,000 after acquiring an additional 130 shares during the period. United Community Bank lifted its holdings in shares of International Flavors & Fragrances by 19.4% in the 4th quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock worth $78,000 after acquiring an additional 150 shares during the last quarter. Finally, Commerce Bank grew its holdings in International Flavors & Fragrances by 3.8% during the 4th quarter. Commerce Bank now owns 4,141 shares of the specialty chemicals company's stock valued at $350,000 after purchasing an additional 152 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IFF. JPMorgan Chase & Co. decreased their target price on International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Cfra downgraded shares of International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 target price on the stock. in a research note on Thursday, February 20th. Citigroup lifted their price target on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. UBS Group increased their price objective 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. Finally, Robert W. Baird lowered 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $92.54.

Insiders Place Their Bets

In related news, Director Mehmood Khan acquired 4,000 shares of International Flavors & Fragrances stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $75.33 per share, for a total transaction of $301,320.00. Following the purchase, the director now owns 4,604 shares of the company's stock, valued at approximately $346,819.32. This represents a 662.25% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephen N. Landsman bought 12,000 shares of the stock in a transaction dated Monday, May 19th. The stock was bought at an average price of $77.28 per share, for a total transaction of $927,360.00. Following the purchase, the executive vice president now directly owns 12,000 shares of the company's stock, valued at approximately $927,360. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 24,050 shares of company stock valued at $1,869,147. Insiders own 0.20% of the company's stock.

International Flavors & Fragrances Stock Down 1.8%

Shares of IFF stock traded down $1.42 during mid-day trading on Thursday, hitting $75.66. 2,021,429 shares of the stock traded hands, compared to its average volume of 1,521,325. The stock's fifty day moving average is $75.76 and its two-hundred day moving average is $82.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. International Flavors & Fragrances Inc. has a 52-week low of $65.85 and a 52-week high of $106.77. The stock has a market cap of $19.35 billion, a P/E ratio of 80.48, a P/E/G ratio of 1.45 and a beta of 1.08.

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

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. International Flavors & Fragrances's payout ratio is -48.93%.

About International Flavors & Fragrances

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.