Wealth Enhancement Advisory Services LLC Sells 23,334 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Wealth Enhancement Advisory Services LLC cut its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 32.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,062 shares of the specialty chemicals company's stock after selling 23,334 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in International Flavors & Fragrances were worth $3,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IFF. SBI Securities Co. Ltd. acquired a new position in International Flavors & Fragrances in the 4th quarter worth $32,000. Fairway Wealth LLC acquired a new position in shares of International Flavors & Fragrances during the fourth quarter worth about $34,000. Rialto Wealth Management LLC bought a new position in shares of International Flavors & Fragrances during the fourth quarter worth about $42,000. Principal Securities Inc. raised its position in 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 last quarter. Finally, United Community Bank lifted its stake in International Flavors & Fragrances by 19.4% in 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 in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

International Flavors & Fragrances Stock Performance

Shares of IFF traded down $0.75 during mid-day trading on Monday, reaching $73.60. The company's stock had a trading volume of 2,629,627 shares, compared to its average volume of 1,521,548. The company has a current ratio of 1.87, a quick ratio of 1.39 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 1-year low of $65.85 and a 1-year high of $106.77. The business has a 50-day simple moving average of $76.21 and a two-hundred day simple moving average of $79.42. The stock has a market cap of $18.83 billion, a P/E ratio of -22.51, a PEG ratio of 3.31 and a beta of 1.05.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly 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 positive return on equity of 7.99% and a negative net margin of 7.31%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter last year, the firm posted $1.13 EPS. The company's quarterly revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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 issued a $0.40 dividend. The ex-dividend date is Friday, June 20th. This represents a $1.60 annualized dividend and a yield of 2.17%. International Flavors & Fragrances's dividend payout ratio is currently -48.93%.

Insider Activity

In other International Flavors & Fragrances news, CAO Beril Yildiz sold 2,400 shares of the company's stock in a transaction 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 transaction, the chief accounting officer directly owned 3,321 shares of the company's stock, valued at $256,812.93. This represents a 41.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mehmood Khan acquired 4,000 shares of the stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $75.33 per share, for a total transaction of $301,320.00. Following the transaction, the director directly owned 4,604 shares in the company, valued at approximately $346,819.32. This trade represents a 662.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 22,050 shares of company stock valued at $1,688,512. Company insiders own 0.17% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on IFF. Barclays raised shares of International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $76.00 to $84.00 in a research note on Thursday, May 8th. Wells Fargo & Company lowered their price target on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Oppenheimer reduced their price objective on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird lowered their target price on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, Tigress Financial assumed coverage on International Flavors & Fragrances in a research report on Wednesday, June 4th. They set a "buy" rating and a $105.00 price target for the company. 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 stock. According to MarketBeat, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and an average target price of $93.43.

International Flavors & Fragrances Company 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.