State of Michigan Retirement System Lowers Position in International Flavors & Fragrances Inc (NYSE:IFF)

State of Michigan Retirement System lessened its position in International Flavors & Fragrances Inc (NYSE:IFF) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,542 shares of the specialty chemicals company’s stock after selling 1,300 shares during the quarter. State of Michigan Retirement System’s holdings in International Flavors & Fragrances were worth $2,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IFF. Comerica Bank increased its position in International Flavors & Fragrances by 0.3% during the 4th quarter. Comerica Bank now owns 21,573 shares of the specialty chemicals company’s stock valued at $2,868,000 after buying an additional 71 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in International Flavors & Fragrances by 11.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 838 shares of the specialty chemicals company’s stock valued at $85,000 after buying an additional 85 shares in the last quarter. CWM Advisors LLC increased its position in International Flavors & Fragrances by 6.1% during the 4th quarter. CWM Advisors LLC now owns 2,337 shares of the specialty chemicals company’s stock valued at $302,000 after buying an additional 135 shares in the last quarter. DNB Asset Management AS increased its position in International Flavors & Fragrances by 0.7% during the 4th quarter. DNB Asset Management AS now owns 20,582 shares of the specialty chemicals company’s stock valued at $2,655,000 after buying an additional 142 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in International Flavors & Fragrances by 8.1% during the 1st quarter. Bessemer Group Inc. now owns 2,108 shares of the specialty chemicals company’s stock valued at $215,000 after buying an additional 158 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

A number of analysts have commented on IFF shares. BNP Paribas raised International Flavors & Fragrances from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $98.90 to $110.00 in a report on Monday, April 6th. Barclays reissued a “sell” rating and issued a $119.00 target price on shares of International Flavors & Fragrances in a report on Wednesday, February 19th. Wells Fargo & Co raised International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $141.00 to $150.00 in a report on Wednesday, April 29th. Citigroup reduced their target price on International Flavors & Fragrances from $114.00 to $113.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Exane BNP Paribas raised International Flavors & Fragrances from an “underperform” rating to a “neutral” rating and set a $110.00 target price for the company in a report on Monday, April 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. International Flavors & Fragrances has an average rating of “Hold” and a consensus target price of $132.69.

In other news, insider Nicolas Mirzayantz sold 831 shares of International Flavors & Fragrances stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $135.50, for a total value of $112,600.50. Following the sale, the insider now directly owns 29,878 shares of the company’s stock, valued at $4,048,469. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Winder Investment Pte Ltd bought 102,700 shares of International Flavors & Fragrances stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of $124.41 per share, for a total transaction of $12,776,907.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,399,754 shares of company stock worth $155,136,959 and have sold 1,695 shares worth $202,048. 0.42% of the stock is currently owned by insiders.

IFF stock opened at $132.63 on Tuesday. The company has a market cap of $14.36 billion, a P/E ratio of 22.95 and a beta of 1.08. International Flavors & Fragrances Inc has a 1 year low of $92.14 and a 1 year high of $152.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.17. The stock’s fifty day moving average price is $118.53 and its 200-day moving average price is $126.62.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Monday, May 11th. The specialty chemicals company reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.03. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. International Flavors & Fragrances had a return on equity of 10.78% and a net margin of 8.87%. International Flavors & Fragrances’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. As a group, analysts expect that International Flavors & Fragrances Inc will post 6.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Thursday, June 25th will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, June 24th. This represents a $3.00 annualized dividend and a yield of 2.26%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 48.62%.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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