Byrne Asset Management LLC Reduces Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Byrne Asset Management LLC lowered its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,427 shares of the specialty chemicals company’s stock after selling 580 shares during the period. Byrne Asset Management LLC’s holdings in International Flavors & Fragrances were worth $543,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp lifted its position in International Flavors & Fragrances by 1.9% during the 3rd quarter. State Street Corp now owns 10,467,517 shares of the specialty chemicals company’s stock worth $1,102,363,000 after acquiring an additional 196,696 shares during the period. Geode Capital Management LLC lifted its holdings in shares of International Flavors & Fragrances by 1.3% during the third quarter. Geode Capital Management LLC now owns 6,008,830 shares of the specialty chemicals company’s stock worth $628,341,000 after purchasing an additional 77,521 shares during the period. Nordea Investment Management AB boosted its position in International Flavors & Fragrances by 25.7% in the fourth quarter. Nordea Investment Management AB now owns 5,489,741 shares of the specialty chemicals company’s stock valued at $464,926,000 after buying an additional 1,121,414 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in International Flavors & Fragrances by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,498,815 shares of the specialty chemicals company’s stock worth $157,271,000 after buying an additional 16,590 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in International Flavors & Fragrances by 0.3% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,366,218 shares of the specialty chemicals company’s stock valued at $115,514,000 after acquiring an additional 3,442 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Flavors & Fragrances

In other news, insider Yuvraj Arora sold 5,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $91.75, for a total transaction of $458,750.00. Following the sale, the insider now owns 3,238 shares of the company’s stock, valued at approximately $297,086.50. The trade was a 60.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Trading Down 1.5 %

Shares of NYSE IFF opened at $84.36 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $85.71 and a 200 day moving average of $94.43. International Flavors & Fragrances Inc. has a 12-month low of $72.94 and a 12-month high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.46). The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. International Flavors & Fragrances’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IFF. Argus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Oppenheimer lowered their target price on International Flavors & Fragrances from $117.00 to $114.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. UBS Group lifted their price target on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price objective on International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Vertical Research raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.77.

About International Flavors & Fragrances

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.