Scharf Investments LLC Reduces Stake in International Flavors & Fragrances Inc. $IFF

Scharf Investments LLC trimmed its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 97.9% during the fourth quarter, Holdings Channel reports. The firm owned 10,669 shares of the specialty chemicals company’s stock after selling 488,750 shares during the quarter. Scharf Investments LLC’s holdings in International Flavors & Fragrances were worth $719,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dodge & Cox increased its position 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 valued at $2,275,296,000 after buying an additional 1,925,251 shares in the last quarter. Vanguard Group Inc. grew its stake in International Flavors & Fragrances by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 31,133,186 shares of the specialty chemicals company’s stock valued at $1,915,936,000 after acquiring an additional 252,983 shares during the last quarter. State Street Corp grew its stake in International Flavors & Fragrances by 0.8% in the 3rd quarter. State Street Corp now owns 10,971,108 shares of the specialty chemicals company’s stock valued at $679,460,000 after acquiring an additional 86,134 shares during the last quarter. Invesco Ltd. increased its holdings in International Flavors & Fragrances by 131.3% during the 3rd quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock valued at $441,068,000 after acquiring an additional 4,069,075 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in International Flavors & Fragrances by 27.3% during the third quarter. First Eagle Investment Management LLC now owns 6,927,070 shares of the specialty chemicals company’s stock worth $426,292,000 after acquiring an additional 1,485,976 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $72.55 on Wednesday. International Flavors & Fragrances Inc. has a 1 year low of $59.14 and a 1 year high of $84.45. The company’s 50 day simple moving average is $74.57 and its 200 day simple moving average is $68.50. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of -52.95, a PEG ratio of 1.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 1.42.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.05). International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, March 20th. International Flavors & Fragrances’s dividend payout ratio is presently -116.79%.

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 142,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $70.13 per share, with a total value of $9,958,460.00. Following the purchase, the director owned 2,422,730 shares in the company, valued at approximately $169,906,054.90. This represents a 6.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on IFF. Citigroup increased their price target on shares of International Flavors & Fragrances from $83.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, February 13th. UBS Group upped their target price on International Flavors & Fragrances from $71.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Barclays increased their target price on International Flavors & Fragrances from $78.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Wells Fargo & Company boosted their price target on International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on International Flavors & Fragrances from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Thirteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and a consensus price target of $90.09.

International Flavors & Fragrances Profile

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.