Drive Wealth Management LLC Lowers Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Drive Wealth Management LLC lowered its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 6.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,510 shares of the specialty chemicals company’s stock after selling 409 shares during the period. Drive Wealth Management LLC’s holdings in International Flavors & Fragrances were worth $476,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its holdings in shares of International Flavors & Fragrances by 195.8% in the 3rd quarter. CWM LLC now owns 4,972 shares of the specialty chemicals company’s stock valued at $339,000 after purchasing an additional 3,291 shares in the last quarter. HB Wealth Management LLC acquired a new stake in International Flavors & Fragrances during the 3rd quarter worth $247,000. DAVENPORT & Co LLC increased its stake in International Flavors & Fragrances by 13.2% in the third quarter. DAVENPORT & Co LLC now owns 6,943 shares of the specialty chemicals company’s stock valued at $473,000 after purchasing an additional 809 shares during the period. Oak Thistle LLC raised its holdings in shares of International Flavors & Fragrances by 14.8% in the third quarter. Oak Thistle LLC now owns 4,340 shares of the specialty chemicals company’s stock valued at $296,000 after buying an additional 561 shares during the last quarter. Finally, Czech National Bank raised its holdings in shares of International Flavors & Fragrances by 47.7% in the third quarter. Czech National Bank now owns 44,613 shares of the specialty chemicals company’s stock valued at $3,041,000 after buying an additional 14,416 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Up 0.3 %

Shares of IFF traded up $0.27 during midday trading on Friday, reaching $84.61. 900,101 shares of the company were exchanged, compared to its average volume of 1,247,330. The stock has a 50-day moving average price of $82.06 and a 200-day moving average price of $78.08. International Flavors & Fragrances Inc. has a 1-year low of $62.11 and a 1-year high of $97.49. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.03). International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm posted $0.97 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. On average, analysts expect that International Flavors & Fragrances Inc. will post 3.69 EPS for the current fiscal year.

International Flavors & Fragrances Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 22nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, March 21st. International Flavors & Fragrances’s dividend payout ratio is currently -15.94%.

Wall Street Analysts Forecast Growth

IFF has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Mizuho increased their price objective on International Flavors & Fragrances from $83.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Morgan Stanley increased their price objective on International Flavors & Fragrances from $89.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Argus cut International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Finally, Wolfe Research started coverage on International Flavors & Fragrances in a report on Friday, March 1st. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, International Flavors & Fragrances has an average rating of “Hold” and a consensus price target of $86.35.

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.