Mirae Asset Global Investments Co. Ltd. Cuts Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Mirae Asset Global Investments Co. Ltd. cut its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,075 shares of the specialty chemicals company's stock after selling 9,872 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in International Flavors & Fragrances were worth $4,407,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue grew its position in shares of International Flavors & Fragrances by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 27,696 shares of the specialty chemicals company's stock worth $2,381,000 after buying an additional 130 shares during the period. Parallel Advisors LLC increased its stake in International Flavors & Fragrances by 3.9% in the fourth quarter. Parallel Advisors LLC now owns 3,679 shares of the specialty chemicals company's stock valued at $298,000 after purchasing an additional 138 shares in the last quarter. Pflug Koory LLC raised its holdings in shares of International Flavors & Fragrances by 2.4% during the first quarter. Pflug Koory LLC now owns 6,522 shares of the specialty chemicals company's stock valued at $561,000 after purchasing an additional 152 shares during the period. IFG Advisory LLC boosted its position in shares of International Flavors & Fragrances by 4.0% during the 4th quarter. IFG Advisory LLC now owns 4,000 shares of the specialty chemicals company's stock worth $324,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of International Flavors & Fragrances by 21.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 901 shares of the specialty chemicals company's stock valued at $73,000 after buying an additional 157 shares during the period. Institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Stock Performance

Shares of IFF stock traded up $1.30 during trading hours on Thursday, hitting $97.57. 975,006 shares of the company were exchanged, compared to its average volume of 1,922,877. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $24.91 billion, a price-to-earnings ratio of -9.99, a P/E/G ratio of 1.92 and a beta of 1.26. The firm has a fifty day simple moving average of $95.96 and a 200 day simple moving average of $86.56. International Flavors & Fragrances Inc. has a 52-week low of $62.11 and a 52-week high of $99.91.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.27. International Flavors & Fragrances had a positive return on equity of 5.78% and a negative net margin of 22.01%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business posted $0.87 earnings per share. The business's revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts predict that International Flavors & Fragrances Inc. will post 3.97 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $1.60 dividend on an annualized basis and a yield of 1.64%. International Flavors & Fragrances's dividend payout ratio is presently -16.38%.

Insider Transactions at International Flavors & Fragrances

In related news, insider Angela Strzelecki sold 2,588 shares of the company's stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $95.66, for a total transaction of $247,568.08. Following the sale, the insider now directly owns 8,539 shares in the company, valued at approximately $816,840.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

IFF has been the topic of a number of research reports. Stifel Nicolaus upped their price target on International Flavors & Fragrances from $87.00 to $95.00 and gave the stock a "hold" rating in a research note on Tuesday, May 7th. Barclays increased their target price on International Flavors & Fragrances from $82.00 to $93.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 8th. Robert W. Baird boosted their price target on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, May 8th. Mizuho raised their price objective on shares of International Flavors & Fragrances from $91.00 to $98.00 and gave the company a "neutral" rating in a research note on Tuesday, May 7th. Finally, StockNews.com raised shares of International Flavors & Fragrances from a "sell" rating to a "hold" rating in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, International Flavors & Fragrances presently has an average rating of "Hold" and a consensus price target of $96.78.

International Flavors & Fragrances Company 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.