Private Management Group Inc. Sells 7,193 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Private Management Group Inc. lowered its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,174 shares of the specialty chemicals company’s stock after selling 7,193 shares during the period. Private Management Group Inc.’s holdings in International Flavors & Fragrances were worth $7,363,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Greenwich Wealth Management LLC boosted its stake in International Flavors & Fragrances by 1.4% during the third quarter. Greenwich Wealth Management LLC now owns 15,274 shares of the specialty chemicals company’s stock worth $1,603,000 after acquiring an additional 217 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in International Flavors & Fragrances by 15.6% in the third quarter. Farther Finance Advisors LLC now owns 1,155 shares of the specialty chemicals company’s stock worth $121,000 after buying an additional 156 shares during the last quarter. Tevis Investment Management raised its holdings in International Flavors & Fragrances by 2.8% in the third quarter. Tevis Investment Management now owns 13,835 shares of the specialty chemicals company’s stock worth $1,457,000 after buying an additional 381 shares during the last quarter. Adams Natural Resources Fund Inc. raised its holdings in International Flavors & Fragrances by 212.3% in the third quarter. Adams Natural Resources Fund Inc. now owns 65,606 shares of the specialty chemicals company’s stock worth $6,884,000 after buying an additional 44,600 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new position in International Flavors & Fragrances in the third quarter worth about $7,104,000. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of IFF traded down $0.50 during mid-day trading on Friday, reaching $98.93. The stock had a trading volume of 1,161,992 shares, compared to its average volume of 1,648,816. The firm has a market cap of $25.29 billion, a price-to-earnings ratio of -10.73, a PEG ratio of 1.80 and a beta of 1.22. International Flavors & Fragrances Inc. has a 12 month low of $68.45 and a 12 month high of $106.77. The business has a fifty day moving average of $103.00 and a 200 day moving average of $97.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Equities analysts predict that International Flavors & Fragrances Inc. will post 4.24 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.62%. International Flavors & Fragrances’s dividend payout ratio is -17.35%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IFF. Barclays lifted their target price on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Citigroup boosted their price objective on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a report on Friday, July 12th. UBS Group decreased their price objective on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Oppenheimer boosted their price objective on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company boosted their price objective on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.86.

International Flavors & Fragrances Company 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.