Founders Capital Management LLC Sells 1,658 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Financial News Live · Jul 23, 2022 12:31

Founders Capital Management LLC trimmed its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Get Rating) by 9.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,627 shares of the specialty chemicals company's stock after selling 1,658 shares during the quarter. Founders Capital Management LLC's holdings in International Flavors & Fragrances were worth $2,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in IFF. Kestra Advisory Services LLC raised its position in shares of International Flavors & Fragrances by 15.7% during the fourth quarter. Kestra Advisory Services LLC now owns 2,483 shares of the specialty chemicals company's stock worth $374,000 after acquiring an additional 337 shares during the last quarter. Wealthfront Advisers LLC grew its stake in International Flavors & Fragrances by 42.8% during the fourth quarter. Wealthfront Advisers LLC now owns 3,448 shares of the specialty chemicals company's stock worth $519,000 after purchasing an additional 1,034 shares during the period. National Bank of Canada FI acquired a new stake in International Flavors & Fragrances during the fourth quarter worth approximately $4,337,000. OLD National Bancorp IN acquired a new stake in International Flavors & Fragrances during the fourth quarter worth approximately $204,000. Finally, Signaturefd LLC grew its stake in International Flavors & Fragrances by 6.4% during the fourth quarter. Signaturefd LLC now owns 1,409 shares of the specialty chemicals company's stock worth $212,000 after purchasing an additional 85 shares during the period. 90.67% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, insider De Villeplee Christoph Fauchon sold 630 shares of International Flavors & Fragrances stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $121.68, for a total value of $76,658.40. Following the completion of the transaction, the insider now directly owns 8,809 shares in the company, valued at $1,071,879.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $122.26 on Friday. The firm has a market cap of $31.16 billion, a PE ratio of 56.08, a PEG ratio of 2.13 and a beta of 1.02. The stock's fifty day moving average price is $122.32 and its two-hundred day moving average price is $127.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 1.17. International Flavors & Fragrances Inc. has a 1 year low of $105.38 and a 1 year high of $157.08.

International Flavors & Fragrances (NYSE:IFF – Get Rating) last issued its earnings results on Monday, May 9th. The specialty chemicals company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.38. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.09 billion. International Flavors & Fragrances had a return on equity of 6.89% and a net margin of 4.48%. The business's revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. On average, equities research analysts forecast that International Flavors & Fragrances Inc. will post 5.76 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Friday, June 24th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, June 23rd. International Flavors & Fragrances's dividend payout ratio (DPR) is presently 144.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group cut International Flavors & Fragrances from a "buy" rating to a "hold" rating and reduced their price objective for the company from $170.00 to $101.00 in a research note on Thursday, June 16th. Mizuho reduced their price objective on International Flavors & Fragrances from $147.00 to $145.00 in a research note on Wednesday, May 11th. Wells Fargo & Company lifted their target price on International Flavors & Fragrances from $145.00 to $150.00 in a research report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft cut their target price on International Flavors & Fragrances from $165.00 to $145.00 in a research report on Thursday, May 12th. Finally, Credit Suisse Group assumed coverage on International Flavors & Fragrances in a research report on Monday, June 27th. They set an "outperform" rating and a $145.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $148.92.

International Flavors & Fragrances Profile

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International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through Nourish, Scent, Health & Biosciences, and Pharma Solutions segments.