Garner Asset Management Corp Sells 144 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Garner Asset Management Corp lessened its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 3.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,265 shares of the specialty chemicals company’s stock after selling 144 shares during the quarter. Garner Asset Management Corp’s holdings in International Flavors & Fragrances were worth $448,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IFF. O Shaughnessy Asset Management LLC raised its holdings in shares of International Flavors & Fragrances by 43.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,298 shares of the specialty chemicals company’s stock valued at $800,000 after acquiring an additional 2,829 shares in the last quarter. Bessemer Group Inc. lifted its position in International Flavors & Fragrances by 13.0% during the first quarter. Bessemer Group Inc. now owns 2,746 shares of the specialty chemicals company’s stock valued at $236,000 after purchasing an additional 315 shares during the last quarter. EntryPoint Capital LLC purchased a new position in International Flavors & Fragrances in the 1st quarter worth approximately $56,000. LRI Investments LLC bought a new position in shares of International Flavors & Fragrances in the 1st quarter worth $83,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of International Flavors & Fragrances by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,895,581 shares of the specialty chemicals company’s stock valued at $163,003,000 after buying an additional 162,179 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, insider Yuvraj Arora sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $91.75, for a total value of $458,750.00. Following the completion of the sale, the insider now directly owns 3,238 shares in the company, valued at $297,086.50. This trade represents a 60.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IFF. Oppenheimer upped their target price on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Vertical Research upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Stifel Nicolaus increased their price target on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.27.

International Flavors & Fragrances Price Performance

IFF stock opened at $90.81 on Friday. The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of -9.99, a PEG ratio of 1.59 and a beta of 1.22. The firm’s 50-day moving average price is $99.33 and its two-hundred day moving average price is $98.36. The company has a current ratio of 2.62, a quick ratio of 1.93 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 12-month low of $72.94 and a 12-month high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.46). International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts predict that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances’s payout ratio is -17.60%.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.