International Flavors & Fragrances Inc. (NYSE:IFF) Shares Sold by Sasco Capital Inc. CT

Sasco Capital Inc. CT reduced its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 15.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,910 shares of the specialty chemicals company’s stock after selling 34,580 shares during the period. International Flavors & Fragrances comprises 3.1% of Sasco Capital Inc. CT’s investment portfolio, making the stock its 15th biggest position. Sasco Capital Inc. CT’s holdings in International Flavors & Fragrances were worth $20,452,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of International Flavors & Fragrances in the 3rd quarter worth about $27,000. Family Firm Inc. purchased a new stake in shares of International Flavors & Fragrances in the second quarter valued at about $38,000. Oakworth Capital Inc. purchased a new position in shares of International Flavors & Fragrances during the 3rd quarter worth approximately $44,000. Eastern Bank acquired a new position in shares of International Flavors & Fragrances during the 3rd quarter worth approximately $46,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of International Flavors & Fragrances in the third quarter worth $48,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IFF has been the topic of a number of recent analyst reports. Barclays increased their price target on International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Morgan Stanley upgraded shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $111.00 to $110.00 in a research note on Tuesday, November 12th. Vertical Research upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a report on Thursday, November 7th. Oppenheimer boosted their price objective on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus increased their target price on International Flavors & Fragrances from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and an average target price of $109.27.

Insiders Place Their Bets

In related news, insider Yuvraj Arora sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $91.75, for a total transaction of $458,750.00. Following the completion of the transaction, the insider now directly owns 3,238 shares in the company, valued at approximately $297,086.50. This trade represents a 60.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Performance

International Flavors & Fragrances stock opened at $86.61 on Tuesday. The company has a market cap of $22.14 billion, a PE ratio of -9.53, a PEG ratio of 1.52 and a beta of 1.22. The company has a current ratio of 2.62, a quick ratio of 1.93 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 1 year low of $72.89 and a 1 year high of $106.77. The company’s 50-day moving average is $100.42 and its two-hundred day moving average is $98.43.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.46). The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 EPS. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.17 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.85%. International Flavors & Fragrances’s payout ratio is -17.60%.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.