New York State Common Retirement Fund Lowers Stock Holdings in International Flavors & Fragrances Inc. $IFF

New York State Common Retirement Fund lessened its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 33.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,122 shares of the specialty chemicals company’s stock after selling 75,969 shares during the quarter. New York State Common Retirement Fund’s holdings in International Flavors & Fragrances were worth $9,115,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in International Flavors & Fragrances by 32.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 111,431 shares of the specialty chemicals company’s stock valued at $8,367,000 after acquiring an additional 27,166 shares during the period. Clarkston Capital Partners LLC acquired a new position in shares of International Flavors & Fragrances during the 2nd quarter worth $11,939,000. Creative Planning increased its holdings in shares of International Flavors & Fragrances by 347.5% in the 2nd quarter. Creative Planning now owns 85,345 shares of the specialty chemicals company’s stock valued at $6,277,000 after purchasing an additional 66,273 shares in the last quarter. State Street Corp lifted its stake in shares of International Flavors & Fragrances by 3.6% in the second quarter. State Street Corp now owns 10,884,974 shares of the specialty chemicals company’s stock valued at $804,753,000 after purchasing an additional 381,593 shares during the period. Finally, AGF Management Ltd. boosted its holdings in International Flavors & Fragrances by 17.0% during the second quarter. AGF Management Ltd. now owns 39,614 shares of the specialty chemicals company’s stock worth $2,914,000 after buying an additional 5,754 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IFF. UBS Group lifted their price target on shares of International Flavors & Fragrances from $68.00 to $71.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Wall Street Zen raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday, January 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of International Flavors & Fragrances in a report on Monday, December 29th. Citigroup lifted their price target on International Flavors & Fragrances from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Finally, Argus boosted their price objective on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and an average price target of $86.46.

International Flavors & Fragrances Stock Up 1.0%

Shares of NYSE:IFF opened at $70.42 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $18.03 billion, a P/E ratio of -43.47, a P/E/G ratio of 2.63 and a beta of 1.05. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $87.16. The stock’s fifty day simple moving average is $68.31 and its 200-day simple moving average is $66.52.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.03. International Flavors & Fragrances had a negative net margin of 3.72% and a positive return on equity of 8.03%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the company posted $1.04 EPS. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

About International Flavors & Fragrances

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.