ExodusPoint Capital Management LP Reduces Position in International Flavors & Fragrances Inc. (NYSE:IFF)

ExodusPoint Capital Management LP reduced its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 79.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,932 shares of the specialty chemicals company's stock after selling 291,421 shares during the period. ExodusPoint Capital Management LP's holdings in International Flavors & Fragrances were worth $6,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of International Flavors & Fragrances during the fourth quarter valued at $452,363,000. Van ECK Associates Corp raised its holdings in shares of International Flavors & Fragrances by 41.6% during 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 purchasing an additional 1,663,629 shares during the last quarter. Nordea Investment Management AB boosted its holdings 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 worth $464,926,000 after purchasing an additional 1,121,414 shares during the last quarter. DnB Asset Management AS grew its position in International Flavors & Fragrances by 72.2% in the 4th quarter. DnB Asset Management AS now owns 635,598 shares of the specialty chemicals company's stock worth $53,740,000 after purchasing an additional 266,392 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in International Flavors & Fragrances by 30.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 926,873 shares of the specialty chemicals company's stock valued at $78,367,000 after buying an additional 218,792 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

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International Flavors & Fragrances Price Performance

IFF stock traded down $2.92 during trading on Thursday, hitting $70.05. The stock had a trading volume of 824,376 shares, compared to its average volume of 1,508,605. The company's 50-day moving average price is $79.96 and its two-hundred day moving average price is $87.89. International Flavors & Fragrances Inc. has a twelve month low of $65.85 and a twelve month high of $106.77. The stock has a market capitalization of $17.91 billion, a P/E ratio of 74.52, a PEG ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93.

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

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be paid 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 2.28%. International Flavors & Fragrances's payout ratio is presently 170.21%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley cut their price target on International Flavors & Fragrances from $106.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday. Bank of America decreased their target price on International Flavors & Fragrances from $105.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Barclays reduced their price target on International Flavors & Fragrances from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Oppenheimer cut their price objective on International Flavors & Fragrances from $114.00 to $104.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $98.69.

Insider Activity

In related news, Director Kevin O'byrne acquired 6,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $80.44 per share, with a total value of $522,860.00. Following the completion of the transaction, the director now owns 6,500 shares of the company's stock, valued at $522,860. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

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.