CANADA LIFE ASSURANCE Co Cuts Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

CANADA LIFE ASSURANCE Co lessened its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 9.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,263 shares of the specialty chemicals company's stock after selling 20,521 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.08% of International Flavors & Fragrances worth $17,265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IFF. Dean Investment Associates LLC raised its position in shares of International Flavors & Fragrances by 14.7% in the fourth quarter. Dean Investment Associates LLC now owns 53,059 shares of the specialty chemicals company's stock worth $4,486,000 after buying an additional 6,784 shares in the last quarter. Farringdon Capital Ltd. purchased a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at about $214,000. Zacks Investment Management bought a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at about $4,395,000. Dodge & Cox increased its position in shares of International Flavors & Fragrances by 11.9% in the fourth quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock worth $2,658,063,000 after purchasing an additional 3,355,381 shares during the last quarter. Finally, Jump Financial LLC raised its stake in International Flavors & Fragrances by 83.3% in the fourth quarter. Jump Financial LLC now owns 8,618 shares of the specialty chemicals company's stock valued at $729,000 after purchasing an additional 3,917 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Price Performance

Shares of IFF stock traded down $0.37 during mid-day trading on Friday, hitting $76.27. The company had a trading volume of 1,348,646 shares, compared to its average volume of 1,535,003. The company has a market capitalization of $19.50 billion, a P/E ratio of 81.14, a P/E/G ratio of 1.45 and a beta of 1.21. The stock's 50 day moving average price is $77.14 and its 200-day moving average price is $85.57. International Flavors & Fragrances Inc. has a 52-week low of $65.85 and a 52-week high of $106.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.14. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.67 billion. Equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were given a $0.40 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.60 annualized dividend and a yield of 2.10%. International Flavors & Fragrances's dividend payout ratio is currently 170.21%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IFF. 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 report on Thursday, February 20th. Stifel Nicolaus cut their target price on International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Mizuho decreased their price target on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reduced their target price on shares of International Flavors & Fragrances from $106.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Bank of America cut their price target on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of "Moderate Buy" and an average target price of $94.54.

Insiders Place Their Bets

In related news, Director Kevin O'byrne bought 6,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $80.44 per share, with a total value of $522,860.00. Following the transaction, the director now owns 6,500 shares in the company, valued at $522,860. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

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.