Manning & Napier Advisors LLC Has $2.57 Million Position in International Flavors & Fragrances Inc. $IFF

Manning & Napier Advisors LLC cut its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 27.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,830 shares of the specialty chemicals company’s stock after selling 15,677 shares during the quarter. Manning & Napier Advisors LLC’s holdings in International Flavors & Fragrances were worth $2,574,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of International Flavors & Fragrances by 32.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 111,431 shares of the specialty chemicals company’s stock valued at $8,367,000 after acquiring an additional 27,166 shares during the period. Compagnie Lombard Odier SCmA grew its holdings in shares of International Flavors & Fragrances by 23.0% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 131,645 shares of the specialty chemicals company’s stock worth $9,682,000 after purchasing an additional 24,607 shares during the last quarter. Clarkston Capital Partners LLC acquired a new stake in shares of International Flavors & Fragrances during the 2nd quarter worth about $11,939,000. Exchange Traded Concepts LLC lifted its holdings in International Flavors & Fragrances by 1,831.2% during the 2nd quarter. Exchange Traded Concepts LLC now owns 16,338 shares of the specialty chemicals company’s stock valued at $1,202,000 after purchasing an additional 15,492 shares during the last quarter. Finally, Creative Planning boosted its position in International Flavors & Fragrances by 347.5% in the second quarter. Creative Planning now owns 85,345 shares of the specialty chemicals company’s stock valued at $6,277,000 after buying an additional 66,273 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on IFF. BNP Paribas dropped their price objective on shares of International Flavors & Fragrances from $92.00 to $91.00 in a report on Monday, September 29th. Morgan Stanley decreased their price target on International Flavors & Fragrances from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, September 22nd. Argus decreased their target price on International Flavors & Fragrances from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Berenberg Bank lowered their target price on International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating for the company in a research note on Monday, September 29th. Finally, UBS Group upped their price target on shares of International Flavors & Fragrances from $68.00 to $71.00 and gave the stock a “neutral” rating in a research report on Monday. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.19.

International Flavors & Fragrances Stock Up 0.7%

Shares of IFF opened at $70.09 on Thursday. The business’s fifty day moving average price is $66.63 and its two-hundred day moving average price is $66.97. The firm has a market capitalization of $17.95 billion, a price-to-earnings ratio of -43.26, a PEG ratio of 2.61 and a beta of 1.04. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $88.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.44.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.03. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.65 billion. International Flavors & Fragrances had a positive return on equity of 8.03% and a negative net margin of 3.72%.The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, December 19th. International Flavors & Fragrances’s dividend payout ratio (DPR) is -98.77%.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.