Wellington Management Group LLP Lowers Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Wellington Management Group LLP reduced its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 75.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,020 shares of the specialty chemicals company's stock after selling 9,289 shares during the quarter. Wellington Management Group LLP's holdings in International Flavors & Fragrances were worth $317,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC acquired a new stake in shares of International Flavors & Fragrances in the second quarter valued at $221,000. &PARTNERS purchased a new stake in International Flavors & Fragrances during the second quarter worth about $267,000. Everhart Financial Group Inc. acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth about $234,000. Family Firm Inc. purchased a new position in shares of International Flavors & Fragrances in the second quarter valued at approximately $38,000. Finally, LRI Investments LLC grew its holdings in shares of International Flavors & Fragrances by 520.0% in the second quarter. LRI Investments LLC now owns 961 shares of the specialty chemicals company's stock valued at $91,000 after purchasing an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America raised shares of International Flavors & Fragrances from a "neutral" rating to a "buy" rating and set a $107.00 price target for the company in a research report on Friday, November 8th. Citigroup decreased their target price on International Flavors & Fragrances from $110.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price target on International Flavors & Fragrances from $110.00 to $107.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Vertical Research raised International Flavors & Fragrances from a "hold" rating to a "buy" rating and set a $109.00 price target on the stock in a research report on Thursday, November 7th. Finally, Barclays boosted their price objective on International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and a consensus target price of $110.21.

International Flavors & Fragrances Stock Performance

NYSE:IFF traded down $0.20 during mid-day trading on Friday, reaching $85.74. 4,202,973 shares of the stock were exchanged, compared to its average volume of 1,665,125. The company has a quick ratio of 1.93, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 1 year low of $72.94 and a 1 year high of $106.77. The company has a 50 day simple moving average of $93.60 and a 200-day simple moving average of $97.26. The stock has a market capitalization of $21.92 billion, a P/E ratio of -9.43, a P/E/G ratio of 1.55 and a beta of 1.17.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its earnings results 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 business 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%. The business's revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. Analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.87%. International Flavors & Fragrances's dividend payout ratio (DPR) is -17.60%.

Insider Buying and Selling

In related news, insider Yuvraj Arora sold 5,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 3,238 shares of the company's stock, valued at $297,086.50. This trade represents a 60.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company's stock.

About International Flavors & Fragrances

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.