MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 26,808 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 96.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088 shares of the specialty chemicals company's stock after selling 26,808 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in International Flavors & Fragrances were worth $84,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in shares of International Flavors & Fragrances during the 4th quarter worth approximately $8,099,000. Cibc World Markets Corp raised its position in International Flavors & Fragrances by 299.1% during the fourth quarter. Cibc World Markets Corp now owns 138,522 shares of the specialty chemicals company's stock valued at $11,712,000 after purchasing an additional 103,810 shares in the last quarter. Royal Bank of Canada lifted its stake in International Flavors & Fragrances by 23.6% during the fourth quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock worth $30,529,000 after purchasing an additional 68,970 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of International Flavors & Fragrances by 3.0% in the 4th quarter. Victory Capital Management Inc. now owns 116,419 shares of the specialty chemicals company's stock valued at $9,843,000 after purchasing an additional 3,400 shares in the last quarter. Finally, DnB Asset Management AS increased its stake in shares of International Flavors & Fragrances by 72.2% in the 4th quarter. DnB Asset Management AS now owns 635,598 shares of the specialty chemicals company's stock valued at $53,740,000 after purchasing an additional 266,392 shares during the last quarter. Institutional investors own 96.02% of the company's stock.

Insider Buying and Selling

In related news, Director Kevin O'byrne purchased 4,500 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $76.05 per share, with a total value of $342,225.00. Following the completion of the purchase, the director now owns 7,696 shares in the company, valued at approximately $585,280.80. This trade represents a 140.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Erik Fyrwald bought 700 shares of International Flavors & Fragrances stock in a transaction dated Thursday, May 8th. The stock was purchased at an average price of $74.00 per share, with a total value of $51,800.00. Following the completion of the purchase, the chief executive officer now owns 37,770 shares in the company, valued at $2,794,980. This trade represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 22,050 shares of company stock valued at $1,688,512 over the last 90 days. Company insiders own 0.20% of the company's stock.

International Flavors & Fragrances Trading Down 0.3%

Shares of IFF stock traded down $0.23 on Thursday, hitting $74.80. The company had a trading volume of 1,453,320 shares, compared to its average volume of 1,515,864. International Flavors & Fragrances Inc. has a twelve month low of $65.85 and a twelve month high of $106.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87. The firm has a market cap of $19.13 billion, a P/E ratio of -22.87, a P/E/G ratio of 3.34 and a beta of 1.05. The stock's 50-day moving average is $75.96 and its two-hundred day moving average is $80.37.

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 for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $2.83 billion. During the same quarter in the prior year, the firm posted $1.13 EPS. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. International Flavors & Fragrances's payout ratio is -48.93%.

Analysts Set New Price Targets

A number of research analysts have issued reports on IFF shares. Bank of America decreased their target price on International Flavors & Fragrances from $105.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Cfra lowered shares of International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price target on the stock. in a report on Thursday, February 20th. Tigress Financial assumed coverage on shares of International Flavors & Fragrances in a research note on Wednesday, June 4th. They issued a "buy" rating and a $105.00 price objective for the company. 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 note on Thursday, April 10th. Finally, Barclays upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and increased their price target for the company 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 given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $93.43.

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.