International Flavors & Fragrances Inc. (NYSE:IFF) Stock Holdings Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,566 shares of the specialty chemicals company’s stock after selling 2,765 shares during the quarter. State of Alaska Department of Revenue’s holdings in International Flavors & Fragrances were worth $2,232,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in IFF. Clear Street Markets LLC purchased a new position in shares of International Flavors & Fragrances in the fourth quarter worth approximately $27,000. Penserra Capital Management LLC purchased a new position in shares of International Flavors & Fragrances in the fourth quarter worth approximately $31,000. Covestor Ltd increased its position in shares of International Flavors & Fragrances by 48.8% in the first quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. West Tower Group LLC purchased a new position in shares of International Flavors & Fragrances in the second quarter worth approximately $35,000. Finally, Parkside Financial Bank & Trust increased its position in shares of International Flavors & Fragrances by 241.3% in the third quarter. Parkside Financial Bank & Trust now owns 744 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 526 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 International Flavors & Fragrances stock opened at $83.90 on Friday. The firm has a fifty day simple moving average of $80.94 and a 200-day simple moving average of $76.11. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63. International Flavors & Fragrances Inc. has a 1-year low of $62.11 and a 1-year high of $97.49. The stock has a market capitalization of $21.42 billion, a price-to-earnings ratio of -8.36, a PEG ratio of 1.88 and a beta of 1.23.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. International Flavors & Fragrances’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 3.69 earnings per share for the current year.

International Flavors & Fragrances Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, March 21st. International Flavors & Fragrances’s payout ratio is -15.94%.

Wall Street Analyst Weigh In

IFF has been the topic of several analyst reports. Jefferies Financial Group raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $112.00 in a research report on Friday, January 12th. Robert W. Baird boosted their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Argus downgraded shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Morgan Stanley boosted their price objective on shares of International Flavors & Fragrances from $89.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Finally, UBS Group boosted their price objective on shares of International Flavors & Fragrances from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $84.88.

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.