Fosun International Ltd Sells 6,868 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Fosun International Ltd reduced its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 61.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,347 shares of the specialty chemicals company’s stock after selling 6,868 shares during the quarter. Fosun International Ltd’s holdings in International Flavors & Fragrances were worth $368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in International Flavors & Fragrances in the 4th quarter valued at $32,000. Fairway Wealth LLC acquired a new position in shares of International Flavors & Fragrances during the fourth quarter valued at $34,000. Rialto Wealth Management LLC bought a new position in International Flavors & Fragrances in the fourth quarter valued at about $42,000. Principal Securities Inc. increased its position in International Flavors & Fragrances by 36.6% in the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 171 shares during the period. Finally, Sugar Maple Asset Management LLC bought a new stake in International Flavors & Fragrances during the 4th quarter worth about $78,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Kevin O’byrne purchased 6,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $80.44 per share, with a total value of $522,860.00. Following the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at $522,860. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO J Erik Fyrwald acquired 700 shares of International Flavors & Fragrances stock in a transaction dated Thursday, May 8th. The shares were acquired at an average price of $74.00 per share, with a total value of $51,800.00. Following the completion of the purchase, the chief executive officer now owns 37,770 shares in the company, valued at approximately $2,794,980. The trade was a 1.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IFF shares. Barclays upgraded shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $76.00 to $84.00 in a research report on Thursday. Citigroup lifted their target price on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird reduced their price target on International Flavors & Fragrances from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday. Stifel Nicolaus dropped their price objective on International Flavors & Fragrances from $105.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley reduced their target price on International Flavors & Fragrances from $106.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.69.

International Flavors & Fragrances Price Performance

NYSE IFF opened at $73.46 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84. International Flavors & Fragrances Inc. has a 52-week low of $65.85 and a 52-week high of $106.77. The business has a 50 day simple moving average of $76.39 and a 200 day simple moving average of $83.69. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 78.15, a PEG ratio of 1.45 and a beta of 1.08.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $1.13 earnings per share. Analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. International Flavors & Fragrances’s payout ratio is presently -48.93%.

About International Flavors & Fragrances

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.