Drive Wealth Management LLC Sells 409 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Drive Wealth Management LLC cut its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,510 shares of the specialty chemicals company’s stock after selling 409 shares during the quarter. Drive Wealth Management LLC’s holdings in International Flavors & Fragrances were worth $476,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC raised its stake in shares of International Flavors & Fragrances by 3,000.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 300 shares during the period. Riverview Trust Co purchased a new position in shares of International Flavors & Fragrances in the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of International Flavors & Fragrances in the fourth quarter valued at $41,000. Principal Securities Inc. purchased a new position in shares of International Flavors & Fragrances in the fourth quarter valued at $43,000. Finally, Sachetta LLC purchased a new position in shares of International Flavors & Fragrances in the fourth quarter valued at $50,000. 96.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IFF shares. Stifel Nicolaus reduced their price target on International Flavors & Fragrances from $87.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st. Jefferies Financial Group upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and lifted their price target for the company from $73.00 to $112.00 in a research report on Friday, January 12th. Citigroup upgraded International Flavors & Fragrances from a “neutral” rating to a “buy” rating and lifted their price target for the company from $81.00 to $100.00 in a research report on Wednesday, April 10th. Barclays upgraded International Flavors & Fragrances from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 18th. Finally, Mizuho boosted their target price on International Flavors & Fragrances from $83.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.35.

International Flavors & Fragrances Trading Up 0.3 %

IFF stock traded up $0.27 during mid-day trading on Friday, hitting $84.61. 900,101 shares of the stock were exchanged, compared to its average volume of 1,247,330. International Flavors & Fragrances Inc. has a 12 month low of $62.11 and a 12 month high of $97.49. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average price of $82.06 and a 200 day moving average price of $78.08.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results 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 negative net margin of 22.36% and a positive return on equity of 5.09%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the firm posted $0.97 EPS. The company’s revenue was down 5.0% on a year-over-year basis. As a group, equities analysts anticipate that International Flavors & Fragrances Inc. will post 3.69 EPS for the current fiscal year.

International Flavors & Fragrances Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, March 21st. International Flavors & Fragrances’s payout ratio is -15.94%.

About International Flavors & Fragrances

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.