International Flavors & Fragrances Inc. (NYSE:IFF) Sees Large Drop in Short Interest

International Flavors & Fragrances Inc. (NYSE:IFF) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 9,430,000 shares, a decrease of 24.1% from the March 31st total of 12,430,000 shares. Based on an average daily trading volume, of 4,770,000 shares, the days-to-cover ratio is currently 2.0 days.

Several institutional investors and hedge funds have recently made changes to their positions in IFF. Roosevelt Investment Group LLC purchased a new stake in International Flavors & Fragrances in the 1st quarter valued at $1,530,000. Envestnet Asset Management Inc. increased its stake in International Flavors & Fragrances by 19.8% in the first quarter. Envestnet Asset Management Inc. now owns 434,773 shares of the specialty chemicals company’s stock valued at $60,699,000 after purchasing an additional 71,853 shares during the period. Great Diamond Partners LLC purchased a new stake in shares of International Flavors & Fragrances in the first quarter valued at about $211,000. Commonwealth Equity Services LLC boosted its stake in shares of International Flavors & Fragrances by 9.4% during the first quarter. Commonwealth Equity Services LLC now owns 10,285 shares of the specialty chemicals company’s stock worth $1,436,000 after buying an additional 885 shares during the period. Finally, SPX Equities Gestao de Recursos Ltda grew its holdings in shares of International Flavors & Fragrances by 43.1% during the first quarter. SPX Equities Gestao de Recursos Ltda now owns 91,360 shares of the specialty chemicals company’s stock worth $12,755,000 after buying an additional 27,500 shares during the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

IFF has been the subject of several research reports. Societe Generale upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $145.00 in a research note on Tuesday, January 12th. Exane BNP Paribas upgraded International Flavors & Fragrances from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 12th. BNP Paribas raised International Flavors & Fragrances from an “underperform” rating to a “neutral” rating and set a $122.00 price target on the stock in a research report on Tuesday, January 12th. Jefferies Financial Group assumed coverage on International Flavors & Fragrances in a research report on Wednesday, March 17th. They set a “buy” rating and a $155.00 price objective for the company. Finally, Zacks Investment Research raised shares of International Flavors & Fragrances from a “strong sell” rating to a “hold” rating and set a $120.00 target price on the stock in a report on Wednesday, January 27th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $143.49.

NYSE:IFF traded up $1.38 during midday trading on Tuesday, hitting $145.50. 1,052,392 shares of the company were exchanged, compared to its average volume of 4,655,302. International Flavors & Fragrances has a fifty-two week low of $99.54 and a fifty-two week high of $145.53. The company has a market capitalization of $36.21 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 5.75 and a beta of 0.97. The company has a current ratio of 1.82, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $140.38 and a 200 day simple moving average of $123.92.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Wednesday, February 10th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.13. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. International Flavors & Fragrances had a return on equity of 11.00% and a net margin of 7.44%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 earnings per share. As a group, equities research analysts expect that International Flavors & Fragrances will post 5.58 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 6th. Stockholders of record on Friday, March 26th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, March 25th. International Flavors & Fragrances’s payout ratio is currently 49.92%.

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 Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.

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