South Dakota Investment Council Sells 21,322 Shares of International Flavors & Fragrances Inc. $IFF

South Dakota Investment Council cut its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 20.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,194 shares of the specialty chemicals company’s stock after selling 21,322 shares during the quarter. South Dakota Investment Council’s holdings in International Flavors & Fragrances were worth $6,108,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. DNB Asset Management AS lifted its position in shares of International Flavors & Fragrances by 0.3% during the fourth quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock valued at $3,622,000 after buying an additional 139 shares during the last quarter. MML Investors Services LLC grew its position in shares of International Flavors & Fragrances by 0.8% in the 4th quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock worth $1,162,000 after buying an additional 140 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of International Flavors & Fragrances by 0.3% during the 4th quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock worth $4,685,000 after acquiring an additional 200 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in shares of International Flavors & Fragrances by 0.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 42,033 shares of the specialty chemicals company’s stock worth $2,855,000 after acquiring an additional 203 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

IFF has been the topic of several analyst reports. Benchmark began coverage on shares of International Flavors & Fragrances in a report on Tuesday, June 9th. They issued a “buy” rating and a $100.00 price target on the stock. Berenberg Bank increased their price objective on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a report on Thursday, May 7th. Jefferies Financial Group raised their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.16.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg purchased 260,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were acquired at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the purchase, the director owned 2,682,730 shares in the company, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Trading Down 0.2%

Shares of International Flavors & Fragrances stock opened at $79.44 on Friday. The firm’s 50 day simple moving average is $76.94 and its two-hundred day simple moving average is $74.96. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.99 and a beta of 0.93. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $84.45. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF) last posted 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. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. Analysts predict that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. International Flavors & Fragrances’s payout ratio is currently 48.93%.

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.