Point72 Asset Management L.P. Trims Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Point72 Asset Management L.P. decreased its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 52.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 298,165 shares of the specialty chemicals company’s stock after selling 331,055 shares during the quarter. Point72 Asset Management L.P.’s holdings in International Flavors & Fragrances were worth $31,286,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IFF. Polar Asset Management Partners Inc. grew its holdings in International Flavors & Fragrances by 8.8% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 48,400 shares of the specialty chemicals company’s stock valued at $5,079,000 after buying an additional 3,900 shares in the last quarter. Investment Management Corp of Ontario boosted its position in shares of International Flavors & Fragrances by 44.7% during the third quarter. Investment Management Corp of Ontario now owns 8,414 shares of the specialty chemicals company’s stock worth $883,000 after acquiring an additional 2,600 shares during the last quarter. Centiva Capital LP bought a new stake in International Flavors & Fragrances in the 3rd quarter valued at $348,000. Benjamin Edwards Inc. bought a new stake in International Flavors & Fragrances in the 3rd quarter valued at $994,000. Finally, Point72 Hong Kong Ltd purchased a new stake in International Flavors & Fragrances in the 3rd quarter worth $42,000. Institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $111.00 to $110.00 in a report on Tuesday, November 12th. Mizuho upgraded International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and increased their target price for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Oppenheimer boosted their price target on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Barclays increased their price objective on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Finally, UBS Group boosted their target price on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.00.

Insiders Place Their Bets

In related news, insider Yuvraj Arora sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $91.75, for a total value of $458,750.00. Following the completion of the transaction, the insider now directly owns 3,238 shares in the company, valued at $297,086.50. The trade was a 60.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Down 0.3 %

IFF stock opened at $89.02 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 1.93. The firm’s fifty day simple moving average is $97.26 and its 200-day simple moving average is $97.99. International Flavors & Fragrances Inc. has a 12 month low of $72.94 and a 12 month high of $106.77. The company has a market capitalization of $22.76 billion, a P/E ratio of -9.79, a price-to-earnings-growth ratio of 1.59 and a beta of 1.17.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46). The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. International Flavors & Fragrances’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances’s payout ratio is presently -17.60%.

International Flavors & Fragrances 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.