Point72 DIFC Ltd Reduces Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Point72 DIFC Ltd trimmed its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 46.8% during the third quarter, Holdings Channel reports. The institutional investor owned 20,482 shares of the specialty chemicals company’s stock after selling 18,009 shares during the period. Point72 DIFC Ltd’s holdings in International Flavors & Fragrances were worth $2,149,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in International Flavors & Fragrances in the 3rd quarter worth about $27,000. Point72 Hong Kong Ltd acquired a new stake in International Flavors & Fragrances in the 3rd quarter worth about $42,000. Family Firm Inc. acquired a new stake in International Flavors & Fragrances in the 2nd quarter worth about $38,000. Oakworth Capital Inc. acquired a new stake in International Flavors & Fragrances in the 3rd quarter worth about $44,000. Finally, Eastern Bank acquired a new stake in International Flavors & Fragrances in the 3rd quarter worth about $46,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Yuvraj Arora sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $91.75, for a total value of $458,750.00. Following the completion of the sale, the insider now directly owns 3,238 shares in the company, valued at approximately $297,086.50. The trade was a 60.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

International Flavors & Fragrances Price Performance

IFF stock opened at $89.30 on Thursday. The company has a quick ratio of 1.93, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 52-week low of $72.94 and a 52-week high of $106.77. The stock’s 50 day moving average is $97.55 and its two-hundred day moving average is $98.05. The company has a market capitalization of $22.83 billion, a PE ratio of -9.82, a P/E/G ratio of 1.61 and a beta of 1.17.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.46). International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. International Flavors & Fragrances’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts predict that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.79%. International Flavors & Fragrances’s dividend payout ratio is presently -17.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Oppenheimer lifted their price objective on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus lifted their price objective on International Flavors & Fragrances from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Vertical Research raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research note on Thursday, November 7th. UBS Group lifted their price objective on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Bank of America raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.

International Flavors & Fragrances Company Profile

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.