Legal & General Group Plc Reduces Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Legal & General Group Plc lowered its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,568,154 shares of the specialty chemicals company’s stock after selling 402,027 shares during the quarter. Legal & General Group Plc owned about 0.61% of International Flavors & Fragrances worth $132,594,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at $32,000. Fairway Wealth LLC purchased a new stake in International Flavors & Fragrances in the 4th quarter valued at about $34,000. Rialto Wealth Management LLC bought a new position in International Flavors & Fragrances in the 4th quarter worth about $42,000. Principal Securities Inc. increased its position in shares of International Flavors & Fragrances by 36.6% during the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock worth $54,000 after acquiring an additional 171 shares during the period. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $78,000. 96.02% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kevin O’byrne bought 6,500 shares of International Flavors & Fragrances stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $80.44 per share, with a total value of $522,860.00. Following the acquisition, the director now owns 6,500 shares of the company’s stock, valued at approximately $522,860. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

International Flavors & Fragrances Price Performance

IFF stock opened at $71.26 on Friday. The business’s fifty day moving average price is $79.66 and its 200 day moving average price is $87.66. International Flavors & Fragrances Inc. has a 12-month low of $65.85 and a 12-month high of $106.77. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $18.22 billion, a PE ratio of 75.80, a P/E/G ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.83 by $0.14. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. On average, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. International Flavors & Fragrances’s dividend payout ratio is currently 170.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Oppenheimer lowered their price objective on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Morgan Stanley cut their target price on shares of International Flavors & Fragrances from $106.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price target on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Bank of America cut their price objective on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and an average price target of $98.69.

International Flavors & Fragrances Company 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.