CastleKnight Management LP Has $3.29 Million Holdings in International Flavors & Fragrances Inc. $IFF

CastleKnight Management LP cut its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 66.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,800 shares of the specialty chemicals company’s stock after selling 98,200 shares during the quarter. CastleKnight Management LP’s holdings in International Flavors & Fragrances were worth $3,289,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. DNB Asset Management AS boosted its stake in shares of International Flavors & Fragrances by 0.3% during the fourth quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock valued at $3,622,000 after purchasing an additional 139 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of International Flavors & Fragrances by 0.8% during the fourth quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock valued at $1,162,000 after purchasing an additional 140 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of International Flavors & Fragrances by 0.7% during the third quarter. Rafferty Asset Management LLC now owns 21,837 shares of the specialty chemicals company’s stock valued at $1,344,000 after purchasing an additional 158 shares in the last quarter. Clearstead Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 6.1% during the third quarter. Clearstead Advisors LLC now owns 3,021 shares of the specialty chemicals company’s stock valued at $186,000 after purchasing an additional 173 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC boosted its stake in shares of International Flavors & Fragrances by 0.9% during the third quarter. Parr Mcknight Wealth Management Group LLC now owns 23,129 shares of the specialty chemicals company’s stock valued at $1,423,000 after purchasing an additional 199 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IFF shares. Benchmark started coverage on International Flavors & Fragrances in a research note on Tuesday, June 9th. They set a “buy” rating and a $100.00 price target on the stock. Oppenheimer lifted their price target on International Flavors & Fragrances from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Jefferies Financial Group raised their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Berenberg Bank raised their price objective on International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.05.

Insider Activity at International Flavors & Fragrances

In other news, Director Paul J. Fribourg acquired 260,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was purchased at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the acquisition, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. The trade was a 10.73% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Trading Down 2.4%

Shares of IFF stock opened at $75.99 on Thursday. The company has a market cap of $19.40 billion, a P/E ratio of 23.24, a PEG ratio of 1.81 and a beta of 0.94. The stock has a 50 day simple moving average of $74.44 and a two-hundred day simple moving average of $72.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. Research analysts forecast that International Flavors & Fragrances Inc. will post 4.56 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, June 18th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. International Flavors & Fragrances’s payout ratio is currently 48.93%.

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.