Sterling Capital Management LLC Reduces Holdings in International Flavors & Fragrances Inc. $IFF

Sterling Capital Management LLC reduced its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 42.3% during the first quarter, Holdings Channel.com reports. The firm owned 9,044 shares of the specialty chemicals company’s stock after selling 6,628 shares during the period. Sterling Capital Management LLC’s holdings in International Flavors & Fragrances were worth $656,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Dodge & Cox increased its stake in shares of International Flavors & Fragrances by 5.5% in the third quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company’s stock worth $2,275,296,000 after buying an additional 1,925,251 shares during the period. State Street Corp boosted its position in International Flavors & Fragrances by 1.1% during the 4th quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company’s stock valued at $751,875,000 after buying an additional 121,260 shares during the period. First Eagle Investment Management LLC grew its holdings in International Flavors & Fragrances by 27.5% in the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock worth $595,166,000 after acquiring an additional 1,904,598 shares during the last quarter. Invesco Ltd. increased its position in shares of International Flavors & Fragrances by 4.9% in the fourth quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock valued at $506,760,000 after acquiring an additional 352,636 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of International Flavors & Fragrances by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company’s stock valued at $454,607,000 after acquiring an additional 172,781 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 260,000 shares of International Flavors & Fragrances stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the acquisition, the director owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.07% of the stock is owned by insiders.

International Flavors & Fragrances Stock Up 2.5%

International Flavors & Fragrances stock opened at $81.21 on Thursday. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $84.45. The stock has a fifty day simple moving average of $75.25 and a two-hundred day simple moving average of $73.25. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.84 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the company earned $1.20 EPS. International Flavors & Fragrances’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts predict that International Flavors & Fragrances Inc. will post 4.56 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. International Flavors & Fragrances’s payout ratio is presently 48.93%.

Wall Street Analysts Forecast Growth

IFF has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Barclays upped their price target on International Flavors & Fragrances from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Citigroup cut their price objective on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Benchmark began coverage on International Flavors & Fragrances in a research note on Tuesday, June 9th. They set a “buy” rating and a $100.00 target price on the stock. Finally, UBS Group raised their price target on International Flavors & Fragrances from $75.00 to $86.00 in a research note on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.16.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.