International Flavors & Fragrances Inc. (NYSE:IFF) Stake Reduced by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC reduced its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 96.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,349 shares of the specialty chemicals company’s stock after selling 156,021 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in International Flavors & Fragrances were worth $452,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of International Flavors & Fragrances by 8.9% in the fourth quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company’s stock valued at $123,000 after purchasing an additional 119 shares during the period. Truist Financial Corp increased its stake in shares of International Flavors & Fragrances by 0.7% in the fourth quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company’s stock valued at $1,683,000 after purchasing an additional 129 shares during the period. Wahed Invest LLC increased its stake in shares of International Flavors & Fragrances by 2.1% in the fourth quarter. Wahed Invest LLC now owns 6,339 shares of the specialty chemicals company’s stock valued at $536,000 after purchasing an additional 130 shares during the period. United Community Bank raised its stake in shares of International Flavors & Fragrances by 19.4% during the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company’s stock valued at $78,000 after purchasing an additional 150 shares in the last quarter. Finally, Commerce Bank lifted its holdings in International Flavors & Fragrances by 3.8% in the fourth quarter. Commerce Bank now owns 4,141 shares of the specialty chemicals company’s stock worth $350,000 after purchasing an additional 152 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other International Flavors & Fragrances news, CEO J Erik Fyrwald purchased 700 shares of the stock in a transaction dated Thursday, May 8th. The shares were acquired at an average price of $74.00 per share, for a total transaction of $51,800.00. Following the completion of the acquisition, the chief executive officer now owns 37,770 shares of the company’s stock, valued at $2,794,980. This represents a 1.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin O’byrne purchased 6,500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the acquisition, the director now directly owns 6,500 shares of the company’s stock, valued at $522,860. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 24,050 shares of company stock worth $1,869,147 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $75.66 on Friday. International Flavors & Fragrances Inc. has a one year low of $65.85 and a one year high of $106.77. The stock has a fifty day moving average of $75.64 and a 200-day moving average of $82.17. The company has a market capitalization of $19.35 billion, a PE ratio of 80.48, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.08. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, June 20th. International Flavors & Fragrances’s payout ratio is -48.93%.

Analysts Set New Price Targets

IFF has been the topic of several research analyst reports. Stifel Nicolaus lowered their target price on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Bank of America lowered their price objective on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Robert W. Baird lowered their price objective on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Oppenheimer lowered their price objective on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company lowered their price objective on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.54.

International Flavors & Fragrances 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.