Envestnet Portfolio Solutions Inc. Lowers Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 29.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,935 shares of the specialty chemicals company's stock after selling 5,279 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in International Flavors & Fragrances were worth $1,004,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at approximately $32,000. Fairway Wealth LLC purchased a new stake in International Flavors & Fragrances in the 4th quarter valued at $34,000. Rialto Wealth Management LLC acquired a new stake in shares of International Flavors & Fragrances in the 4th quarter worth $42,000. Principal Securities Inc. raised its holdings in shares of International Flavors & Fragrances by 36.6% during the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock worth $54,000 after acquiring an additional 171 shares during the period. Finally, United Community Bank boosted its position in shares of International Flavors & Fragrances by 19.4% during the 4th quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock valued at $78,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Kevin O'byrne acquired 4,500 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of $76.05 per share, for a total transaction of $342,225.00. Following the completion of the transaction, the director now owns 7,696 shares of the company's stock, valued at $585,280.80. The trade was a 140.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Erik Fyrwald purchased 700 shares of the business's 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 acquisition, the chief executive officer now directly owns 37,770 shares in the company, valued at approximately $2,794,980. This represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 22,050 shares of company stock worth $1,688,512. Company insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

IFF has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company lowered their price objective on International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley reduced 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. Oppenheimer cut their price objective on International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus decreased their target price on shares of 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 assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $93.43.

International Flavors & Fragrances Stock Down 0.6%

IFF traded down $0.42 on Wednesday, reaching $74.30. The company's stock had a trading volume of 1,671,298 shares, compared to its average volume of 1,516,865. The company has a quick ratio of 1.39, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a fifty-two week low of $65.85 and a fifty-two week high of $106.77. The stock has a 50 day moving average of $76.09 and a two-hundred day moving average of $79.88. The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of -22.72, a P/E/G ratio of 3.28 and a beta of 1.05.

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

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 20th will be given a $0.40 dividend. The ex-dividend date is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. International Flavors & Fragrances's dividend payout ratio (DPR) is -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.