Kornitzer Capital Management Inc. KS Decreases Stock Position in International Flavors & Fragrances Inc. $IFF

Kornitzer Capital Management Inc. KS decreased its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 12.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,796 shares of the specialty chemicals company’s stock after selling 8,249 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in International Flavors & Fragrances were worth $3,557,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IFF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of International Flavors & Fragrances by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company’s stock worth $2,042,000 after acquiring an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in International Flavors & Fragrances by 15.7% during the 1st quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company’s stock worth $309,000 after purchasing an additional 539 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of International Flavors & Fragrances by 71.5% during the 1st quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company’s stock valued at $811,000 after buying an additional 4,358 shares during the last quarter. Focus Partners Wealth increased its stake in shares of International Flavors & Fragrances by 25.5% in the first quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company’s stock worth $584,000 after buying an additional 1,530 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IFF has been the subject of several research reports. Barclays lifted their target price on International Flavors & Fragrances from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Citigroup upped their price objective on shares of International Flavors & Fragrances from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Argus boosted their price target on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. Finally, Mizuho lowered their price target on International Flavors & Fragrances from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $73.17 on Wednesday. The business has a 50 day simple moving average of $67.96 and a 200 day simple moving average of $66.68. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.87. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $88.00. The company has a market capitalization of $18.74 billion, a PE ratio of -45.16, a price-to-earnings-growth ratio of 2.80 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 EPS for the quarter, beating 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 company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company posted $1.04 EPS. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, December 19th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. International Flavors & Fragrances’s dividend payout ratio (DPR) is -98.77%.

International Flavors & Fragrances Company 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.