Bank of Nova Scotia Has $3.08 Million Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Bank of Nova Scotia cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 73.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,398 shares of the specialty chemicals company's stock after selling 99,978 shares during the quarter. Bank of Nova Scotia's holdings in International Flavors & Fragrances were worth $3,077,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in IFF. Coldstream Capital Management Inc. increased its holdings in shares of International Flavors & Fragrances by 6.9% during the third quarter. Coldstream Capital Management Inc. now owns 4,314 shares of the specialty chemicals company's stock worth $447,000 after buying an additional 279 shares in the last quarter. Toronto Dominion Bank raised its position in International Flavors & Fragrances by 21.1% in the 3rd quarter. Toronto Dominion Bank now owns 126,257 shares of the specialty chemicals company's stock valued at $13,248,000 after purchasing an additional 22,028 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in International Flavors & Fragrances by 872.8% in the third quarter. Sunbelt Securities Inc. now owns 1,323 shares of the specialty chemicals company's stock worth $139,000 after purchasing an additional 1,187 shares in the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of International Flavors & Fragrances by 4.2% during the third quarter. Arete Wealth Advisors LLC now owns 3,061 shares of the specialty chemicals company's stock worth $321,000 after purchasing an additional 124 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in International Flavors & Fragrances during the 3rd quarter worth about $406,000. Institutional investors and hedge funds own 96.02% of the company's stock.

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Analysts Set New Price Targets

IFF has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Argus upgraded International Flavors & Fragrances from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Cfra cut International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price objective for the company. in a report on Thursday, February 20th. Finally, Mizuho reduced their target price on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.69.

Insider Activity

In other news, Director Kevin O'byrne bought 6,500 shares of the company's stock in a transaction that occurred on 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 transaction, the director now owns 6,500 shares in the company, valued at $522,860. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

International Flavors & Fragrances Trading Down 1.3 %

Shares of IFF stock traded down $0.95 on Tuesday, hitting $72.54. The stock had a trading volume of 1,076,231 shares, compared to its average volume of 1,516,781. The firm has a market cap of $18.55 billion, a P/E ratio of 77.16, a PEG ratio of 1.45 and a beta of 1.21. International Flavors & Fragrances Inc. has a twelve month low of $65.85 and a twelve month high of $106.77. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average price of $78.90 and a two-hundred day moving average price of $87.00.

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

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, March 21st. International Flavors & Fragrances's dividend payout ratio is 170.21%.

International Flavors & Fragrances Profile

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.