Pictet Asset Management Ltd. Cuts Position in Internationa Flavors & Fragrances, Inc. (IFF)

Pictet Asset Management Ltd. lessened its stake in Internationa Flavors & Fragrances, Inc. (NYSE:IFF) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,460 shares of the specialty chemicals company’s stock after selling 20,692 shares during the period. Pictet Asset Management Ltd. owned about 0.17% of Internationa Flavors & Fragrances worth $19,073,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC raised its stake in Internationa Flavors & Fragrances by 5.7% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 764 shares of the specialty chemicals company’s stock valued at $103,000 after purchasing an additional 41 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Internationa Flavors & Fragrances by 30.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,056 shares of the specialty chemicals company’s stock worth $143,000 after acquiring an additional 245 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Internationa Flavors & Fragrances by 0.5% in the 2nd quarter. D.A. Davidson & CO. now owns 1,073 shares of the specialty chemicals company’s stock worth $144,000 after acquiring an additional 5 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of Internationa Flavors & Fragrances by 6.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,276 shares of the specialty chemicals company’s stock worth $171,000 after purchasing an additional 76 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Internationa Flavors & Fragrances by 15.1% during the 2nd quarter. IFP Advisors Inc now owns 1,353 shares of the specialty chemicals company’s stock worth $183,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

In other Internationa Flavors & Fragrances news, major shareholder Winder Investment Pte Ltd bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average price of $134.90 per share, with a total value of $13,490,000.00. Following the completion of the transaction, the insider now directly owns 10,278,401 shares in the company, valued at approximately $1,386,556,294.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anne Chwat sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $137.22, for a total value of $411,660.00. Following the completion of the sale, the executive vice president now directly owns 42,157 shares of the company’s stock, valued at approximately $5,784,783.54. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 241,792 shares of company stock worth $32,790,887 and have sold 5,465 shares worth $757,718. 0.48% of the stock is currently owned by company insiders.

Internationa Flavors & Fragrances, Inc. (NYSE:IFF) opened at $148.31 on Monday. The company has a current ratio of 2.32, a quick ratio of 1.59 and a debt-to-equity ratio of 0.97. Internationa Flavors & Fragrances, Inc. has a 1-year low of $113.16 and a 1-year high of $151.04. The company has a market capitalization of $11,712.89, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 2.95 and a beta of 1.18.

Internationa Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.05. Internationa Flavors & Fragrances had a return on equity of 26.83% and a net margin of 12.31%. The business had revenue of $842.86 million for the quarter, compared to analysts’ expectations of $845.89 million. During the same period in the prior year, the firm earned $1.47 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. sell-side analysts expect that Internationa Flavors & Fragrances, Inc. will post 5.74 earnings per share for the current year.

Internationa Flavors & Fragrances declared that its board has authorized a stock buyback plan on Wednesday, November 1st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.com-unik.info/2017/11/06/pictet-asset-management-ltd-cuts-position-in-internationa-flavors-fragrances-inc-iff.html.

A number of brokerages recently commented on IFF. Stifel Nicolaus restated a “hold” rating and set a $136.00 target price on shares of Internationa Flavors & Fragrances in a report on Friday, July 21st. Barclays PLC restated a “sell” rating and set a $123.00 target price on shares of Internationa Flavors & Fragrances in a research note on Friday, August 11th. Zacks Investment Research upgraded Internationa Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub lowered Internationa Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, KeyCorp lifted their price target on Internationa Flavors & Fragrances from $148.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $135.15.

Internationa Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.

Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Internationa Flavors & Fragrances, Inc. (NYSE:IFF).

Institutional Ownership by Quarter for Internationa Flavors & Fragrances (NYSE:IFF)

What are top analysts saying about Internationa Flavors & Fragrances Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Internationa Flavors & Fragrances Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit