Logan Capital Management Inc. Cuts Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Logan Capital Management Inc. cut its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 18.9% during the 4th quarter, HoldingsChannel reports. The firm owned 963 shares of the specialty chemicals company’s stock after selling 225 shares during the quarter. Logan Capital Management Inc.’s holdings in International Flavors & Fragrances were worth $81,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dodge & Cox grew its stake in International Flavors & Fragrances by 11.9% in the fourth quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company’s stock worth $2,658,063,000 after purchasing an additional 3,355,381 shares in the last quarter. Vanguard Group Inc. grew its stake in International Flavors & Fragrances by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 30,218,759 shares of the specialty chemicals company’s stock worth $2,554,996,000 after purchasing an additional 164,945 shares in the last quarter. Freemont Capital Pte Ltd acquired a new position in International Flavors & Fragrances in the fourth quarter worth about $2,143,882,000. Geode Capital Management LLC grew its stake in International Flavors & Fragrances by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 6,166,778 shares of the specialty chemicals company’s stock worth $520,032,000 after purchasing an additional 157,948 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in International Flavors & Fragrances by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 5,664,250 shares of the specialty chemicals company’s stock valued at $478,912,000 after acquiring an additional 1,663,629 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Flavors & Fragrances

In other news, Director Kevin O’byrne purchased 6,500 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $80.44 per share, for a total transaction of $522,860.00. Following the completion of the acquisition, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $522,860. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Erik Fyrwald acquired 700 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $74.00 per share, with a total value of $51,800.00. Following the transaction, the chief executive officer now directly owns 37,770 shares of the company’s stock, valued at $2,794,980. The trade was a 1.89% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $76.49 on Wednesday. International Flavors & Fragrances Inc. has a 12-month low of $65.85 and a 12-month high of $106.77. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The company has a market cap of $19.57 billion, a P/E ratio of 81.37, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. The company’s fifty day moving average is $76.18 and its two-hundred day moving average is $83.19.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.83 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. International Flavors & Fragrances’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. Equities analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, June 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) is -48.93%.

Wall Street Analyst Weigh In

A number of brokerages have commented on IFF. Oppenheimer decreased their target price on International Flavors & Fragrances from $104.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird decreased their target price on International Flavors & Fragrances from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Stifel Nicolaus decreased their target price on International Flavors & Fragrances from $105.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. UBS Group lifted their price target on International Flavors & Fragrances from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Cfra cut International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price target on the stock. in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.54.

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.