Mackenzie Financial Corp Sells 1,534 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Mackenzie Financial Corp lowered its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,385 shares of the specialty chemicals company’s stock after selling 1,534 shares during the period. Mackenzie Financial Corp’s holdings in International Flavors & Fragrances were worth $1,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alliance Wealth Advisors LLC UT boosted its holdings in International Flavors & Fragrances by 3.2% in the third quarter. Alliance Wealth Advisors LLC UT now owns 4,840 shares of the specialty chemicals company’s stock worth $330,000 after acquiring an additional 148 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of International Flavors & Fragrances by 9.7% in the third quarter. Federated Hermes Inc. now owns 1,712 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 152 shares during the last quarter. IFG Advisory LLC raised its stake in shares of International Flavors & Fragrances by 4.0% in the fourth quarter. IFG Advisory LLC now owns 4,000 shares of the specialty chemicals company’s stock worth $324,000 after purchasing an additional 155 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of International Flavors & Fragrances by 3.8% in the third quarter. Stratos Wealth Partners LTD. now owns 4,388 shares of the specialty chemicals company’s stock worth $299,000 after purchasing an additional 161 shares during the last quarter. Finally, Crumly & Associates Inc. raised its stake in shares of International Flavors & Fragrances by 3.6% in the third quarter. Crumly & Associates Inc. now owns 5,243 shares of the specialty chemicals company’s stock worth $357,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

International Flavors & Fragrances stock opened at $85.44 on Wednesday. The stock’s 50 day simple moving average is $81.81 and its two-hundred day simple moving average is $77.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.67. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of -8.51, a PEG ratio of 1.87 and a beta of 1.23. International Flavors & Fragrances Inc. has a fifty-two week low of $62.11 and a fifty-two week high of $97.49.

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

International Flavors & Fragrances Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were given a $0.40 dividend. The ex-dividend date was Thursday, March 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.87%. International Flavors & Fragrances’s dividend payout ratio is currently -15.94%.

Wall Street Analysts Forecast Growth

IFF has been the subject of several analyst reports. Robert W. Baird increased their price objective on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Jefferies Financial Group upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and raised their price target for the company from $73.00 to $112.00 in a research report on Friday, January 12th. Mizuho raised their price target on International Flavors & Fragrances from $83.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Argus downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Finally, Citigroup upgraded International Flavors & Fragrances from a “neutral” rating to a “buy” rating and raised their price target for the company from $81.00 to $100.00 in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of “Hold” and an average target price of $86.35.

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.