Morgan Stanley Cuts Stock Holdings in International Flavors & Fragrances Inc (NYSE:IFF)

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Morgan Stanley reduced its stake in International Flavors & Fragrances Inc (NYSE:IFF) by 38.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,102 shares of the specialty chemicals company’s stock after selling 119,387 shares during the quarter. Morgan Stanley’s holdings in International Flavors & Fragrances were worth $19,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. PSI Advisors LLC bought a new position in International Flavors & Fragrances in the fourth quarter valued at $25,000. Procyon Private Wealth Partners LLC purchased a new position in shares of International Flavors & Fragrances in the 4th quarter worth about $30,000. Synovus Financial Corp bought a new position in shares of International Flavors & Fragrances during the 1st quarter valued at about $25,000. Bainco International Investors purchased a new position in shares of International Flavors & Fragrances during the 1st quarter valued at about $26,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in International Flavors & Fragrances by 50.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 329 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 110 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

IFF opened at $122.46 on Wednesday. The business has a 50 day simple moving average of $129.63 and a two-hundred day simple moving average of $125.92. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 20.62 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.98 and a quick ratio of 1.22. International Flavors & Fragrances Inc has a one year low of $92.14 and a one year high of $147.20.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Monday, May 11th. The specialty chemicals company reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. International Flavors & Fragrances had a return on equity of 11.03% and a net margin of 9.09%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.57 EPS. As a group, sell-side analysts expect that International Flavors & Fragrances Inc will post 5.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Thursday, June 25th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Wednesday, June 24th. International Flavors & Fragrances’s payout ratio is currently 48.62%.

IFF has been the topic of several research reports. Citigroup lifted their price target on shares of International Flavors & Fragrances from $113.00 to $133.40 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Exane BNP Paribas cut shares of International Flavors & Fragrances from a “neutral” rating to an “underperform” rating and set a $111.00 target price on the stock. in a research report on Monday, June 22nd. UBS Group boosted their price target on shares of International Flavors & Fragrances from $154.00 to $156.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Wells Fargo & Co reaffirmed a “buy” rating on shares of International Flavors & Fragrances in a research note on Wednesday, June 3rd. Finally, BNP Paribas lowered International Flavors & Fragrances from a “neutral” rating to an “underperform” rating and set a $111.00 target price for the company. in a research note on Monday, June 22nd. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $135.53.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

Featured Article: SEC Filing

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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