RNC Capital Management LLC Sells 1,012 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

RNC Capital Management LLC trimmed its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 17.2% in the fourth quarter, HoldingsChannel reports. The firm owned 4,879 shares of the specialty chemicals company’s stock after selling 1,012 shares during the quarter. RNC Capital Management LLC’s holdings in International Flavors & Fragrances were worth $395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IFF. Winder Pte. Ltd. bought a new position in International Flavors & Fragrances during the third quarter valued at about $1,728,544,000. State Street Corp boosted its stake in International Flavors & Fragrances by 8.9% in the second quarter. State Street Corp now owns 14,567,213 shares of the specialty chemicals company’s stock valued at $1,171,031,000 after acquiring an additional 1,192,222 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of International Flavors & Fragrances by 59.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,772,700 shares of the specialty chemicals company’s stock valued at $814,890,000 after acquiring an additional 2,890,737 shares during the period. Nordea Investment Management AB increased its stake in shares of International Flavors & Fragrances by 16.3% during the 3rd quarter. Nordea Investment Management AB now owns 5,672,776 shares of the specialty chemicals company’s stock worth $388,358,000 after purchasing an additional 795,797 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of International Flavors & Fragrances by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 5,274,530 shares of the specialty chemicals company’s stock worth $483,953,000 after purchasing an additional 116,338 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock traded up $2.77 on Wednesday, hitting $84.21. 982,264 shares of the company traded hands, compared to its average volume of 2,206,695. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63. The firm’s 50-day simple moving average is $80.13 and its 200 day simple moving average is $75.38. International Flavors & Fragrances Inc. has a 12-month low of $62.11 and a 12-month high of $97.49. The company has a market cap of $21.50 billion, a P/E ratio of -8.11, a P/E/G ratio of 1.82 and a beta of 1.22.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The business’s quarterly revenue was down 5.0% on a year-over-year basis. Analysts expect that International Flavors & Fragrances Inc. will post 3.71 earnings per share for the current fiscal year.

International Flavors & Fragrances Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.90%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -15.94%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IFF shares. Barclays raised their target price on International Flavors & Fragrances from $64.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 12th. Citigroup decreased their price objective on International Flavors & Fragrances from $85.00 to $81.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Wells Fargo & Company lifted their target price on shares of International Flavors & Fragrances from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Wolfe Research started coverage on shares of International Flavors & Fragrances in a report on Friday, March 1st. They set an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.94.

About International Flavors & Fragrances

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.