State Street Corp Sells 34,776 Shares of International Flavors & Fragrances Inc (NYSE:IFF)

State Street Corp trimmed its stake in International Flavors & Fragrances Inc (NYSE:IFF) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,467,080 shares of the specialty chemicals company’s stock after selling 34,776 shares during the period. State Street Corp owned 4.18% of International Flavors & Fragrances worth $579,669,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Davy Global Fund Management Ltd raised its stake in shares of International Flavors & Fragrances by 27.6% in the 4th quarter. Davy Global Fund Management Ltd now owns 15,929 shares of the specialty chemicals company’s stock valued at $2,055,000 after acquiring an additional 3,444 shares in the last quarter. GYL Financial Synergies LLC raised its stake in shares of International Flavors & Fragrances by 16.7% in the 4th quarter. GYL Financial Synergies LLC now owns 2,197 shares of the specialty chemicals company’s stock valued at $283,000 after acquiring an additional 315 shares in the last quarter. Investment House LLC raised its stake in shares of International Flavors & Fragrances by 108.2% in the 4th quarter. Investment House LLC now owns 5,330 shares of the specialty chemicals company’s stock valued at $688,000 after acquiring an additional 2,770 shares in the last quarter. Naples Global Advisors LLC raised its stake in shares of International Flavors & Fragrances by 3.8% in the 4th quarter. Naples Global Advisors LLC now owns 24,121 shares of the specialty chemicals company’s stock valued at $3,112,000 after acquiring an additional 890 shares in the last quarter. Finally, Rhumbline Advisers increased its position in International Flavors & Fragrances by 4.9% in the 4th quarter. Rhumbline Advisers now owns 194,033 shares of the specialty chemicals company’s stock worth $25,034,000 after buying an additional 9,064 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of IFF traded down $0.87 on Monday, reaching $135.87. 1,028,381 shares of the stock traded hands, compared to its average volume of 1,084,686. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 34.05 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.86 and a quick ratio of 1.17. International Flavors & Fragrances Inc has a 12 month low of $104.86 and a 12 month high of $152.95. The stock’s 50-day moving average price is $132.48 and its 200-day moving average price is $126.78.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. International Flavors & Fragrances had a return on equity of 10.78% and a net margin of 8.87%. International Flavors & Fragrances’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 earnings per share. As a group, equities research analysts forecast that International Flavors & Fragrances Inc will post 6.31 earnings per share for the current fiscal year.

Several brokerages have commented on IFF. Zacks Investment Research downgraded International Flavors & Fragrances from a “hold” rating to a “sell” rating and set a $133.00 price target on the stock. in a research report on Tuesday, January 7th. Wells Fargo & Co lifted their price target on International Flavors & Fragrances from $135.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday. Societe Generale downgraded International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $122.00 price target on the stock. in a research report on Monday, December 16th. Citigroup downgraded International Flavors & Fragrances from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Finally, Barclays reaffirmed a “sell” rating on shares of International Flavors & Fragrances in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $143.55.

In related news, major shareholder Winder Investment Pte Ltd purchased 110,433 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of $135.05 per share, with a total value of $14,913,976.65. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicolas Mirzayantz sold 979 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $130.05, for a total value of $127,318.95. Following the completion of the sale, the insider now directly owns 30,709 shares in the company, valued at approximately $3,993,705.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 548,234 shares of company stock worth $73,120,570. 0.39% of the stock is currently owned by company insiders.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

See Also: What is quantitative easing?

Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc (NYSE:IFF).

Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

Receive News & Ratings for International Flavors & Fragrances Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Flavors & Fragrances and related companies with MarketBeat.com's FREE daily email newsletter.