International Flavors & Fragrances Inc. (NYSE:IFF) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,541 shares of the specialty chemicals company’s stock after selling 2,937 shares during the quarter. Corebridge Financial Inc.’s holdings in International Flavors & Fragrances were worth $5,119,000 as of its most recent SEC filing.

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

International Flavors & Fragrances Trading Down 2.3 %

Shares of IFF stock opened at $76.41 on Friday. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 81.28, a PEG ratio of 1.45 and a beta of 1.21. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $82.56 and a 200 day moving average price of $89.89. International Flavors & Fragrances Inc. has a twelve month low of $76.38 and a twelve month high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.14. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. Research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.60 annualized dividend and a yield of 2.09%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 170.21%.

Analysts Set New Price Targets

A number of research firms have commented on IFF. Oppenheimer reduced their target price on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company reduced their price objective on shares of 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. Argus raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Cfra lowered International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price target on the stock. in a research note on Thursday, February 20th. Finally, Barclays dropped their price objective on International Flavors & Fragrances from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

Insiders Place Their Bets

In related news, Director Kevin O’byrne acquired 6,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $80.44 per share, for a total transaction of $522,860.00. Following the acquisition, 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 SEC, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

International Flavors & Fragrances 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.