Envestnet Asset Management Inc. Has $22.32 Million Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Envestnet Asset Management Inc. lessened its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 14.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 234,457 shares of the specialty chemicals company’s stock after selling 39,375 shares during the period. Envestnet Asset Management Inc. owned 0.09% of International Flavors & Fragrances worth $22,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dai ichi Life Insurance Company Ltd acquired a new position in International Flavors & Fragrances during the second quarter valued at approximately $205,000. Johnson Investment Counsel Inc. bought a new stake in shares of International Flavors & Fragrances in the second quarter valued at approximately $445,000. Qsemble Capital Management LP bought a new stake in shares of International Flavors & Fragrances in the second quarter valued at approximately $724,000. American Century Companies Inc. boosted its position in shares of International Flavors & Fragrances by 14.1% in the second quarter. American Century Companies Inc. now owns 40,507 shares of the specialty chemicals company’s stock valued at $3,857,000 after acquiring an additional 5,008 shares during the period. Finally, AGF Management Ltd. boosted its position in shares of International Flavors & Fragrances by 14.9% in the second quarter. AGF Management Ltd. now owns 20,549 shares of the specialty chemicals company’s stock valued at $1,956,000 after acquiring an additional 2,668 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

IFF has been the subject of several research reports. Citigroup increased their price objective on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Stifel Nicolaus raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $115.00 in a research report on Monday, July 22nd. Mizuho raised International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. UBS Group reduced their target price on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Finally, Wells Fargo & Company raised their target price on International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, International Flavors & Fragrances currently has an average rating of “Hold” and a consensus price target of $103.87.

International Flavors & Fragrances Stock Down 1.0 %

Shares of NYSE IFF opened at $102.23 on Monday. The stock has a market cap of $26.10 billion, a PE ratio of -10.46, a PEG ratio of 1.85 and a beta of 1.22. The business has a fifty day moving average of $99.80 and a two-hundred day moving average of $93.83. International Flavors & Fragrances Inc. has a 52-week low of $62.28 and a 52-week high of $105.30. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the business earned $0.86 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

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

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.