Sumitomo Mitsui Trust Group Inc. Sells 36,721 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in International Flavors & Fragrances by 6.1% in the first quarter, selling 36,721 shares and leaving it with 570,107 shares valued at about $41.4 million.
• IFF reported better-than-expected quarterly results, posting earnings of $1.25 per share on revenue of $2.74 billion, both above analyst estimates, even though revenue declined 3.6% year over year.
• The stock has support from analysts and income investors: IFF pays a $0.40 quarterly dividend yielding about 2.1%, and analysts currently rate it a consensus “Moderate Buy” with an average price target of $91.16.

Sumitomo Mitsui Trust Group Inc. reduced its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 570,107 shares of the specialty chemicals company's stock after selling 36,721 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of International Flavors & Fragrances worth $41,361,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in International Flavors & Fragrances by 1.1% in the fourth quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company's stock valued at $751,875,000 after buying an additional 121,260 shares during the period. First Eagle Investment Management LLC grew its holdings in International Flavors & Fragrances by 27.5% during the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company's stock worth $595,166,000 after acquiring an additional 1,904,598 shares during the period. Invesco Ltd. raised its position in shares of International Flavors & Fragrances by 4.9% in the 4th quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company's stock worth $506,760,000 after acquiring an additional 352,636 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of International Flavors & Fragrances by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company's stock valued at $454,607,000 after purchasing an additional 172,781 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of International Flavors & Fragrances by 28.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,042,758 shares of the specialty chemicals company's stock valued at $407,221,000 after purchasing an additional 1,336,479 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Trading Up 0.1%

NYSE IFF opened at $77.57 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45. The business has a 50 day moving average price of $76.66 and a 200-day moving average price of $74.03. The company has a market cap of $19.80 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.80 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. International Flavors & Fragrances's revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 EPS. As a group, equities analysts expect that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently 48.93%.

Analyst Ratings Changes

Several brokerages have issued reports on IFF. Rothschild & Co Redburn dropped their price target on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Jefferies Financial Group lifted their price objective on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Barclays boosted their target price on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Finally, Morgan Stanley lifted their price target on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, International Flavors & Fragrances has a consensus rating of "Moderate Buy" and an average price target of $91.16.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 260,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the transaction, the director directly owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.07% of the stock is currently owned by insiders.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc NYSE: IFF is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF's research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.

Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc. (NYSE:IFF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.