Wealthfront Advisers LLC Reduces Stock Position in International Flavors & Fragrances Inc. $IFF

Wealthfront Advisers LLC decreased its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 53.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,304 shares of the specialty chemicals company’s stock after selling 7,304 shares during the quarter. Wealthfront Advisers LLC’s holdings in International Flavors & Fragrances were worth $388,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System lifted its holdings in shares of International Flavors & Fragrances by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock valued at $5,113,000 after purchasing an additional 200 shares during the last quarter. Central Pacific Bank Trust Division increased its position in International Flavors & Fragrances by 1.9% during the third quarter. Central Pacific Bank Trust Division now owns 10,900 shares of the specialty chemicals company’s stock worth $671,000 after buying an additional 200 shares during the period. Truist Financial Corp lifted its stake in International Flavors & Fragrances by 2.3% in the third quarter. Truist Financial Corp now owns 9,090 shares of the specialty chemicals company’s stock valued at $559,000 after buying an additional 203 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 210 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in shares of International Flavors & Fragrances by 2.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 8,736 shares of the specialty chemicals company’s stock worth $643,000 after acquiring an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $82.97 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.25 billion, a P/E ratio of -60.56, a price-to-earnings-growth ratio of 3.14 and a beta of 1.05. The firm has a 50-day moving average price of $70.03 and a two-hundred day moving average price of $66.68. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $86.96.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IFF has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of International Flavors & Fragrances in a research note on Monday, December 29th. BNP Paribas Exane decreased their target price on shares of International Flavors & Fragrances from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday. Wall Street Zen raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday, January 4th. Citigroup upped their price objective on International Flavors & Fragrances from $83.00 to $95.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays increased their price objective on International Flavors & Fragrances from $78.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, International Flavors & Fragrances has an average rating of “Moderate Buy” and an average price target of $90.84.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.