Folger Nolan Fleming Douglas Capital Management Inc. Sells 16,228 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 12.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,392 shares of the specialty chemicals company's stock after selling 16,228 shares during the period. International Flavors & Fragrances makes up about 1.0% of Folger Nolan Fleming Douglas Capital Management Inc.'s holdings, making the stock its 28th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in International Flavors & Fragrances were worth $8,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of International Flavors & Fragrances during the 4th quarter valued at $32,000. Fairway Wealth LLC acquired a new position in International Flavors & Fragrances in the fourth quarter worth $34,000. Rialto Wealth Management LLC bought a new stake in International Flavors & Fragrances during the 4th quarter worth about $42,000. Principal Securities Inc. increased its stake in shares of International Flavors & Fragrances by 36.6% in the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock valued at $54,000 after buying an additional 171 shares during the period. Finally, United Community Bank raised its position in shares of International Flavors & Fragrances by 19.4% during the fourth 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. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Stock Down 3.0%

Shares of IFF stock traded down $2.32 on Friday, hitting $76.05. 1,058,307 shares of the stock were exchanged, compared to its average volume of 1,521,536. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $19.45 billion, a P/E ratio of 80.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. International Flavors & Fragrances Inc. has a fifty-two week low of $65.85 and a fifty-two week high of $106.77. The business has a 50-day moving average of $75.68 and a 200 day moving average of $80.62.

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 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.08. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.83 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The business's quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. International Flavors & Fragrances's dividend payout ratio is -48.93%.

Wall Street Analysts Forecast Growth

IFF has been the subject of a number of research reports. Tigress Financial initiated coverage on International Flavors & Fragrances in a research report on Wednesday, June 4th. They issued a "buy" rating and a $105.00 price objective for the company. Morgan Stanley lowered their price target on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Oppenheimer cut their price objective on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Cfra downgraded International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price target on the stock. in a research note on Thursday, February 20th. Finally, Barclays raised International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $76.00 to $84.00 in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.43.

Insider Activity

In other International Flavors & Fragrances news, CAO Beril Yildiz sold 2,400 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $77.33, for a total value of $185,592.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,321 shares in the company, valued at $256,812.93. This trade represents a 41.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO J Erik Fyrwald acquired 700 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $74.00 per share, for a total transaction of $51,800.00. Following the purchase, the chief executive officer now 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. Insiders purchased 22,050 shares of company stock worth $1,688,512 in the last quarter. Corporate insiders own 0.20% of the company's stock.

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.