International Flavors & Fragrances Inc. (NYSE:IFF) Stock Holdings Lessened by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 11.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,718 shares of the specialty chemicals company’s stock after selling 14,589 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in International Flavors & Fragrances were worth $9,046,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IFF. Covestor Ltd raised its holdings in shares of International Flavors & Fragrances by 48.8% during the first quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at about $27,000. Penserra Capital Management LLC acquired a new position in International Flavors & Fragrances in the fourth quarter worth approximately $31,000. Blue Bell Private Wealth Management LLC lifted its stake in International Flavors & Fragrances by 3,000.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in International Flavors & Fragrances in the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Up 0.4 %

Shares of IFF stock traded up $0.37 on Friday, reaching $83.97. 793,087 shares of the stock were exchanged, compared to its average volume of 1,978,286. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.67 and a quick ratio of 1.02. International Flavors & Fragrances Inc. has a one year low of $62.11 and a one year high of $97.49. The stock has a market cap of $21.44 billion, a PE ratio of -8.36, a P/E/G ratio of 1.87 and a beta of 1.23. The stock has a 50 day moving average price of $81.62 and a 200 day moving average price of $77.36.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. Equities research analysts forecast that International Flavors & Fragrances Inc. will post 3.69 EPS for the current fiscal year.

International Flavors & Fragrances Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Thursday, March 21st. International Flavors & Fragrances’s payout ratio is -15.94%.

Analysts Set New Price Targets

Several brokerages have commented on IFF. StockNews.com upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Robert W. Baird upped their price objective on International Flavors & Fragrances from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Wells Fargo & Company raised their target price on International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Barclays upgraded International Flavors & Fragrances from an “underweight” rating to an “equal weight” rating in a research report on Thursday. Finally, Argus cut International Flavors & Fragrances from a “buy” rating to a “hold” rating in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $86.35.

About International Flavors & Fragrances

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.