Delta Asset Management LLC TN Reduces Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Delta Asset Management LLC TN lowered its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 15.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,250 shares of the specialty chemicals company’s stock after selling 600 shares during the period. Delta Asset Management LLC TN’s holdings in International Flavors & Fragrances were worth $275,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IFF. UMB Bank n.a. increased its position in International Flavors & Fragrances by 8.9% during the 4th quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company’s stock valued at $123,000 after purchasing an additional 119 shares during the period. Arete Wealth Advisors LLC increased its position in shares of International Flavors & Fragrances by 4.2% during the third quarter. Arete Wealth Advisors LLC now owns 3,061 shares of the specialty chemicals company’s stock valued at $321,000 after buying an additional 124 shares during the period. Truist Financial Corp raised its stake in International Flavors & Fragrances by 0.7% in the fourth quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company’s stock worth $1,683,000 after buying an additional 129 shares in the last quarter. United Community Bank lifted its holdings in International Flavors & Fragrances by 19.4% in the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company’s stock worth $78,000 after buying an additional 150 shares during the period. Finally, Principal Securities Inc. boosted its position in International Flavors & Fragrances by 36.6% during the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock valued at $54,000 after acquiring an additional 171 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $77.56 on Thursday. International Flavors & Fragrances Inc. has a 52 week low of $75.63 and a 52 week high of $106.77. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The stock has a market cap of $19.83 billion, a price-to-earnings ratio of 82.51, a PEG ratio of 1.45 and a beta of 1.21. The business has a 50-day simple moving average of $82.85 and a two-hundred day simple moving average of $90.25.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.14. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. On average, analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, March 21st. International Flavors & Fragrances’s dividend payout ratio is currently 170.21%.

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Kevin O’byrne acquired 6,500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $80.44 per share, with a total value of $522,860.00. Following the completion of the purchase, the director now directly owns 6,500 shares in the company, valued at approximately $522,860. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IFF. Wells Fargo & Company lowered their target price on International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Oppenheimer reduced their target price on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus lowered their price target on shares of International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Barclays cut their price objective on shares of International Flavors & Fragrances from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.