Handelsbanken Fonder AB Sells 16,572 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Handelsbanken Fonder AB lowered its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,182 shares of the specialty chemicals company’s stock after selling 16,572 shares during the quarter. Handelsbanken Fonder AB’s holdings in International Flavors & Fragrances were worth $9,316,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in International Flavors & Fragrances during the 4th quarter worth about $9,271,000. Venturi Wealth Management LLC grew its holdings in International Flavors & Fragrances by 74.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,729 shares of the specialty chemicals company’s stock worth $146,000 after acquiring an additional 740 shares during the last quarter. Truist Financial Corp grew its holdings in International Flavors & Fragrances by 0.7% during the 4th quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company’s stock worth $1,683,000 after acquiring an additional 129 shares during the last quarter. CIBC Asset Management Inc grew its holdings in International Flavors & Fragrances by 4.7% during the 4th quarter. CIBC Asset Management Inc now owns 38,968 shares of the specialty chemicals company’s stock worth $3,295,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in International Flavors & Fragrances by 18.8% during the 4th quarter. Sanctuary Advisors LLC now owns 7,867 shares of the specialty chemicals company’s stock worth $690,000 after acquiring an additional 1,246 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF opened at $79.92 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. The company has a market capitalization of $20.43 billion, a price-to-earnings ratio of 85.02, a P/E/G ratio of 1.45 and a beta of 1.19. The firm’s 50 day simple moving average is $84.71 and its 200 day simple moving average is $93.43. International Flavors & Fragrances Inc. has a fifty-two week low of $72.94 and a fifty-two week high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.83 by $0.14. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. As a group, sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Vertical Research raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Thursday, November 7th. Stifel Nicolaus reduced their target price on shares of International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley raised shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $111.00 to $110.00 in a research note on Tuesday, November 12th. Wells Fargo & Company reduced their target price on shares of International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Barclays reduced their target price on shares of International Flavors & Fragrances from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.50.

International Flavors & Fragrances Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.