First City Capital Management Inc. Sells 1,150 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

First City Capital Management Inc. decreased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 27.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,975 shares of the specialty chemicals company’s stock after selling 1,150 shares during the period. First City Capital Management Inc.’s holdings in International Flavors & Fragrances were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IFF. Summit Trail Advisors LLC grew its position in International Flavors & Fragrances by 5.0% in the second quarter. Summit Trail Advisors LLC now owns 2,471 shares of the specialty chemicals company’s stock valued at $236,000 after acquiring an additional 117 shares during the last quarter. State of Alaska Department of Revenue increased its position in 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 purchasing an additional 130 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in International Flavors & Fragrances by 18.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 863 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of International Flavors & Fragrances by 3.9% during the fourth quarter. Parallel Advisors LLC now owns 3,679 shares of the specialty chemicals company’s stock worth $298,000 after buying an additional 138 shares during the last quarter. Finally, Pflug Koory LLC lifted its stake in shares of International Flavors & Fragrances by 2.4% in the 1st quarter. Pflug Koory LLC now owns 6,522 shares of the specialty chemicals company’s stock valued at $561,000 after acquiring an additional 152 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 0.6 %

Shares of NYSE IFF opened at $102.23 on Friday. International Flavors & Fragrances Inc. has a 12-month low of $62.28 and a 12-month high of $105.30. The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. The firm has a market cap of $26.10 billion, a PE ratio of -10.46, a P/E/G ratio of 1.85 and a beta of 1.22. The company’s fifty day simple moving average is $99.80 and its 200 day simple moving average is $93.72.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the business earned $0.86 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.57%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -16.38%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their target price on International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Citigroup boosted their target price on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Stifel Nicolaus raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and raised their price target for the company from $95.00 to $115.00 in a research note on Monday, July 22nd. Oppenheimer boosted their price objective on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their target price on International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $103.87.

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.