Burney Co. Sells 120 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Burney Co. trimmed its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,229 shares of the specialty chemicals company’s stock after selling 120 shares during the quarter. Burney Co.’s holdings in International Flavors & Fragrances were worth $212,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bayesian Capital Management LP bought a new stake in International Flavors & Fragrances during the 4th quarter valued at approximately $9,316,000. Clearfield Capital Management LP bought a new stake in International Flavors & Fragrances during the 4th quarter valued at approximately $28,771,000. Price T Rowe Associates Inc. MD boosted its position in International Flavors & Fragrances by 19.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,733,402 shares of the specialty chemicals company’s stock valued at $140,355,000 after acquiring an additional 280,069 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in International Flavors & Fragrances by 3.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 68,751 shares of the specialty chemicals company’s stock valued at $5,567,000 after acquiring an additional 2,514 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in International Flavors & Fragrances by 77.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,629 shares of the specialty chemicals company’s stock valued at $2,561,000 after acquiring an additional 13,786 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Stock Performance

IFF traded up $0.61 during mid-day trading on Friday, reaching $103.54. 15,991 shares of the company traded hands, compared to its average volume of 1,773,406. The stock has a market capitalization of $26.44 billion, a P/E ratio of -10.54, a P/E/G ratio of 1.95 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $97.45 and its 200-day moving average price is $90.83. International Flavors & Fragrances Inc. has a 52-week low of $62.28 and a 52-week high of $103.98.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 3.98 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Friday, September 20th. International Flavors & Fragrances’s payout ratio is -16.38%.

Insider Activity

In related news, insider Angela Strzelecki sold 2,588 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $95.66, for a total value of $247,568.08. Following the completion of the transaction, the insider now owns 8,539 shares of the company’s stock, valued at approximately $816,840.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on IFF. Stifel Nicolaus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and lifted their target price for the company from $95.00 to $115.00 in a report on Monday, July 22nd. Morgan Stanley lifted their target price on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a report on Wednesday, July 3rd. UBS Group lowered their target price on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Oppenheimer started coverage on shares of International Flavors & Fragrances in a report on Friday, June 7th. They set an “outperform” rating and a $116.00 target price for the company. Finally, Wells Fargo & Company boosted their price objective on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.80.

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.