International Flavors & Fragrances Inc. $IFF Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 35.3% in the second quarter, HoldingsChannel reports. The firm owned 17,693 shares of the specialty chemicals company’s stock after selling 9,653 shares during the period. Texas Permanent School Fund Corp’s holdings in International Flavors & Fragrances were worth $1,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in IFF. Osaic Holdings Inc. raised its holdings in shares of International Flavors & Fragrances by 9.7% during the second quarter. Osaic Holdings Inc. now owns 18,155 shares of the specialty chemicals company’s stock valued at $1,343,000 after buying an additional 1,604 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new stake in International Flavors & Fragrances in the 2nd quarter valued at approximately $1,079,000. Hudson Bay Capital Management LP bought a new stake in International Flavors & Fragrances during the 2nd quarter valued at $1,389,000. Geneos Wealth Management Inc. boosted its position in International Flavors & Fragrances by 60.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 939 shares of the specialty chemicals company’s stock worth $69,000 after acquiring an additional 352 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new position in shares of International Flavors & Fragrances in the second quarter worth $49,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 0.3%

IFF stock opened at $66.35 on Wednesday. The firm has a market cap of $16.99 billion, a PE ratio of -40.95, a P/E/G ratio of 2.70 and a beta of 1.03. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $88.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $65.33 and a 200 day simple moving average of $67.80.

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

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, December 19th. International Flavors & Fragrances’s dividend payout ratio is currently -98.77%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IFF. Bank of America cut their price objective on shares of International Flavors & Fragrances from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Citigroup lowered their target price on shares of International Flavors & Fragrances from $82.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Wolfe Research raised shares of International Flavors & Fragrances from an “underperform” rating to a “peer perform” rating in a research note on Monday, September 8th. UBS Group raised their price objective on shares of International Flavors & Fragrances from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, BNP Paribas cut their target price on International Flavors & Fragrances from $92.00 to $91.00 in a research report on Monday, September 29th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.02.

International Flavors & Fragrances 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.