Olstein Capital Management L.P. Sells 7,000 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Olstein Capital Management L.P. trimmed its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,000 shares of the specialty chemicals company’s stock after selling 7,000 shares during the quarter. International Flavors & Fragrances makes up 1.4% of Olstein Capital Management L.P.’s holdings, making the stock its 28th largest position. Olstein Capital Management L.P.’s holdings in International Flavors & Fragrances were worth $8,499,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in International Flavors & Fragrances in the third quarter valued at approximately $27,000. Family Firm Inc. bought a new stake in International Flavors & Fragrances in the 2nd quarter valued at $38,000. Fidelis Capital Partners LLC acquired a new stake in International Flavors & Fragrances during the 1st quarter valued at $44,000. Larson Financial Group LLC boosted its position in International Flavors & Fragrances by 5,050.0% during the first quarter. Larson Financial Group LLC now owns 515 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 505 shares during the period. Finally, Oakworth Capital Inc. acquired a new position in shares of International Flavors & Fragrances in the third quarter valued at $44,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IFF shares. Vertical Research upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a research note on Thursday. Citigroup raised their price objective on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. upped their target price on International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Stifel Nicolaus lifted their price target on International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Barclays upped their price objective on International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.47.

International Flavors & Fragrances Price Performance

IFF traded up $1.70 on Thursday, hitting $89.27. 180,660 shares of the stock were exchanged, compared to its average volume of 1,655,356. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of -9.49, a PEG ratio of 1.77 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75. International Flavors & Fragrances Inc. has a 12 month low of $69.73 and a 12 month high of $106.77. The business has a 50-day moving average of $102.63 and a two-hundred day moving average of $98.09.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.46). International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the prior year, the business posted $0.89 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.24 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.79%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -17.35%.

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.