Kornitzer Capital Management Inc. KS Decreases Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Kornitzer Capital Management Inc. KS lessened its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors also recently modified their holdings of the company. ZWJ Investment Counsel Inc. grew its stake in International Flavors & Fragrances by 3.7% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 176,455 shares of the specialty chemicals company’s stock valued at $14,288,000 after purchasing an additional 6,350 shares during the period. Greenleaf Trust raised its position in International Flavors & Fragrances by 75.0% in the fourth quarter. Greenleaf Trust now owns 11,571 shares of the specialty chemicals company’s stock worth $937,000 after acquiring an additional 4,958 shares during the period. HF Advisory Group LLC boosted its stake in International Flavors & Fragrances by 44.4% in the fourth quarter. HF Advisory Group LLC now owns 4,139 shares of the specialty chemicals company’s stock valued at $335,000 after acquiring an additional 1,273 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of International Flavors & Fragrances by 10.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,347 shares of the specialty chemicals company’s stock valued at $1,890,000 after acquiring an additional 2,237 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of International Flavors & Fragrances by 23.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,616 shares of the specialty chemicals company’s stock worth $9,928,000 after purchasing an additional 23,388 shares during the period. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Price Performance

Shares of IFF stock traded up $0.37 during trading hours on Friday, hitting $83.97. 793,087 shares of the company’s stock were exchanged, compared to its average volume of 1,978,286. International Flavors & Fragrances Inc. has a 12-month low of $62.11 and a 12-month high of $97.49. The company has a market capitalization of $21.44 billion, a PE ratio of -8.36, a PEG ratio of 1.87 and a beta of 1.23. The business’s 50 day simple moving average is $81.62 and its 200-day simple moving average is $77.36. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63.

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

International Flavors & Fragrances Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Jefferies Financial Group raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and raised their target price for the stock from $73.00 to $112.00 in a research report on Friday, January 12th. Citigroup raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $81.00 to $100.00 in a report on Wednesday, April 10th. Argus lowered shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company raised their price objective on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. One equities 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $86.35.

International Flavors & Fragrances Company Profile

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.