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

Corebridge Financial Inc. lessened its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 60,541 shares of the specialty chemicals company’s stock after selling 2,937 shares during the period. Corebridge Financial Inc.’s holdings in International Flavors & Fragrances were worth $5,119,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of International Flavors & Fragrances in the 4th quarter valued at $32,000. Fairway Wealth LLC acquired a new stake in International Flavors & Fragrances in the 4th quarter valued at $34,000. Point72 Hong Kong Ltd acquired a new position in shares of International Flavors & Fragrances during the third quarter worth about $42,000. Rialto Wealth Management LLC purchased a new stake in shares of International Flavors & Fragrances in the fourth quarter worth about $42,000. Finally, Principal Securities Inc. grew its stake in shares of International Flavors & Fragrances by 36.6% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IFF. JPMorgan Chase & Co. dropped their price objective on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus lowered their target price on International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Oppenheimer cut their price target on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Finally, Bank of America reduced their target price on International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

International Flavors & Fragrances Price Performance

NYSE IFF opened at $76.41 on Friday. The firm has a market capitalization of $19.54 billion, a PE ratio of 81.28, a P/E/G ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. International Flavors & Fragrances Inc. has a 12 month low of $76.38 and a 12 month high of $106.77. The company’s 50 day simple moving average is $82.56 and its 200 day simple moving average is $89.89.

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

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders 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 dividend yield of 2.09%. International Flavors & Fragrances’s dividend payout ratio (DPR) is 170.21%.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Kevin O’byrne purchased 6,500 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $522,860. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

About International Flavors & Fragrances

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.