Olstein Capital Management L.P. Sells 16,000 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Olstein Capital Management L.P. decreased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 12.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 108,000 shares of the specialty chemicals company’s stock after selling 16,000 shares during the period. International Flavors & Fragrances accounts for approximately 1.5% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 15th biggest holding. Olstein Capital Management L.P.’s holdings in International Flavors & Fragrances were worth $9,287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Bell Private Wealth Management LLC boosted its stake in shares of International Flavors & Fragrances by 3,000.0% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Riverview Trust Co acquired a new position in International Flavors & Fragrances in the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in International Flavors & Fragrances during the 4th quarter worth about $41,000. Principal Securities Inc. acquired a new position in shares of International Flavors & Fragrances in the 4th quarter valued at about $43,000. Finally, Optiver Holding B.V. bought a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at about $50,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at International Flavors & Fragrances

In other news, insider Angela Strzelecki sold 2,588 shares of International Flavors & Fragrances stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total transaction of $247,568.08. Following the sale, the insider now directly owns 8,539 shares in the company, valued at approximately $816,840.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IFF. Bank of America lifted their target price on International Flavors & Fragrances from $87.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft boosted their target price 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. Robert W. Baird raised their price target on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Barclays lifted their price target on shares of International Flavors & Fragrances from $82.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company raised their target price on International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.78.

International Flavors & Fragrances Stock Up 0.3 %

Shares of NYSE IFF traded up $0.28 during trading on Wednesday, hitting $95.02. The stock had a trading volume of 566,865 shares, compared to its average volume of 1,957,022. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 1.05. The firm has a fifty day moving average of $94.40 and a two-hundred day moving average of $85.85. International Flavors & Fragrances Inc. has a 12 month low of $62.11 and a 12 month high of $99.91. The company has a market capitalization of $24.26 billion, a PE ratio of -9.73, a PEG ratio of 1.88 and a beta of 1.26.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.86 by $0.27. 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 $2.90 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business posted $0.87 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 3.97 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a $0.40 dividend. The ex-dividend date is Friday, June 21st. This represents a $1.60 annualized dividend and a yield of 1.68%. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

International Flavors & Fragrances 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.