Channing Global Advisors LLC Trims Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Channing Global Advisors LLC decreased its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,017 shares of the specialty chemicals company's stock after selling 5,833 shares during the period. International Flavors & Fragrances accounts for 2.8% of Channing Global Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Channing Global Advisors LLC's holdings in International Flavors & Fragrances were worth $3,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IFF. Northwest Investment Counselors LLC bought a new stake in shares of International Flavors & Fragrances during the 3rd quarter worth $27,000. Family Firm Inc. bought a new position in shares of International Flavors & Fragrances during the 2nd quarter valued at approximately $38,000. Oakworth Capital Inc. bought a new stake in shares of International Flavors & Fragrances in the 3rd quarter worth approximately $44,000. Eastern Bank bought a new position in International Flavors & Fragrances during the third quarter valued at $46,000. Finally, MCF Advisors LLC raised its stake in shares of International Flavors & Fragrances by 1,856.0% in the second quarter. MCF Advisors LLC now owns 489 shares of the specialty chemicals company's stock valued at $47,000 after buying an additional 464 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

IFF has been the subject of a number of research reports. Stifel Nicolaus increased their target price on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Mizuho raised shares of International Flavors & Fragrances from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $109.00 to $120.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price target on International Flavors & Fragrances from $110.00 to $107.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Barclays increased their price objective on International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an "equal weight" rating in a report on Friday, October 11th. Finally, Morgan Stanley upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $111.00 to $110.00 in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and a consensus target price of $111.00.

International Flavors & Fragrances Price Performance

Shares of IFF stock traded up $0.54 during trading hours on Friday, hitting $91.36. 806,480 shares of the company's stock were exchanged, compared to its average volume of 1,673,760. The company has a market capitalization of $23.36 billion, a PE ratio of -10.05, a PEG ratio of 1.60 and a beta of 1.22. The company has a current ratio of 2.62, a quick ratio of 1.93 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 12-month low of $72.94 and a 12-month high of $106.77. The business's 50 day simple moving average is $98.08 and its 200-day simple moving average is $98.15.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued 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). International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. The business had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the business earned $0.89 EPS. International Flavors & Fragrances's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.75%. International Flavors & Fragrances's payout ratio is -17.60%.

Insiders Place Their Bets

In other news, insider Yuvraj Arora sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 in the company, valued at approximately $297,086.50. This represents a 60.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

International Flavors & Fragrances Profile

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.