International Flavors & Fragrances Inc. (NYSE:IFF) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,138 shares of the specialty chemicals company's stock after selling 9,662 shares during the quarter. Daiwa Securities Group Inc.'s holdings in International Flavors & Fragrances were worth $3,394,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IFF. First Pacific Advisors LP raised its position in International Flavors & Fragrances by 0.6% in the fourth quarter. First Pacific Advisors LP now owns 4,029,773 shares of the specialty chemicals company's stock worth $340,717,000 after acquiring an additional 22,991 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of International Flavors & Fragrances by 103.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 296,908 shares of the specialty chemicals company's stock valued at $25,104,000 after buying an additional 150,891 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of International Flavors & Fragrances in the fourth quarter valued at $16,037,000. United Community Bank increased its position in shares of International Flavors & Fragrances by 19.4% in the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock valued at $78,000 after buying an additional 150 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in shares of International Flavors & Fragrances in the fourth quarter valued at $42,000. 96.02% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, Director Kevin O'byrne acquired 6,500 shares of International Flavors & Fragrances stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the transaction, the director now directly owns 6,500 shares of the company's stock, valued at $522,860. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IFF shares. Argus upgraded International Flavors & Fragrances from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on International Flavors & Fragrances from $115.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus dropped their price objective on International Flavors & Fragrances from $113.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Barclays dropped their price objective on International Flavors & Fragrances from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Finally, Citigroup decreased their price target on International Flavors & Fragrances from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.50.

International Flavors & Fragrances Stock Up 3.0 %

IFF stock traded up $2.42 during midday trading on Monday, hitting $82.07. 1,328,827 shares of the company's stock were exchanged, compared to its average volume of 1,466,395. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54. International Flavors & Fragrances Inc. has a 12-month low of $78.91 and a 12-month high of $106.77. The firm has a 50 day moving average price of $83.41 and a 200-day moving average price of $91.52. The stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of 87.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

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

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be issued a $0.40 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.95%. International Flavors & Fragrances's dividend payout ratio (DPR) is 170.21%.

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.