Chevy Chase Trust Holdings LLC Sells 1,625 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 1.1% in the first quarter, Holdings Channel.com reports. The fund owned 141,797 shares of the specialty chemicals company’s stock after selling 1,625 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in International Flavors & Fragrances were worth $12,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Easterly Investment Partners LLC lifted its holdings in shares of International Flavors & Fragrances by 1,115.5% during the 1st quarter. Easterly Investment Partners LLC now owns 198,498 shares of the specialty chemicals company’s stock worth $17,069,000 after acquiring an additional 182,167 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of International Flavors & Fragrances during the 1st quarter worth about $855,000. Daiwa Securities Group Inc. increased its position in shares of International Flavors & Fragrances by 8.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 25,209 shares of the specialty chemicals company’s stock worth $2,168,000 after purchasing an additional 1,862 shares in the last quarter. Quent Capital LLC increased its position in shares of International Flavors & Fragrances by 183.2% during the 1st quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 240 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of International Flavors & Fragrances during the 1st quarter worth about $44,000. 96.02% of the stock is owned by institutional investors.

Insider Buying and Selling at International Flavors & Fragrances

In other news, insider Angela Strzelecki sold 2,588 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 8,539 shares of the company’s stock, valued at $816,840.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF traded down $0.77 on Wednesday, hitting $96.04. The company had a trading volume of 461,896 shares, compared to its average volume of 1,924,546. International Flavors & Fragrances Inc. has a 1-year low of $62.11 and a 1-year high of $99.91. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of -9.91, a P/E/G ratio of 1.92 and a beta of 1.26. The stock has a 50 day moving average price of $95.50 and a 200 day moving average price of $86.41. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

International Flavors & Fragrances (NYSE:IFF) last released 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 for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts expect that International Flavors & Fragrances Inc. will post 3.97 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.67%. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IFF shares. Barclays raised their target price 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. UBS Group lifted their price objective on shares of International Flavors & Fragrances from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of International Flavors & Fragrances from $87.00 to $95.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Wells Fargo & Company lifted their price target on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Flavors & Fragrances has an average rating of “Hold” and a consensus target price of $96.78.

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.