CENTRAL TRUST Co increased its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Get Rating) by 34.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,647 shares of the specialty chemicals company's stock after buying an additional 685 shares during the quarter. CENTRAL TRUST Co's holdings in International Flavors & Fragrances were worth $348,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC raised its position in International Flavors & Fragrances by 21.0% in the first quarter. Atticus Wealth Management LLC now owns 973 shares of the specialty chemicals company's stock valued at $128,000 after purchasing an additional 169 shares during the period. Exchange Traded Concepts LLC raised its position in International Flavors & Fragrances by 71.6% in the first quarter. Exchange Traded Concepts LLC now owns 3,705 shares of the specialty chemicals company's stock valued at $487,000 after purchasing an additional 1,546 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at $5,951,000. Addenda Capital Inc. raised its holdings in shares of International Flavors & Fragrances by 2.7% in the 1st quarter. Addenda Capital Inc. now owns 29,289 shares of the specialty chemicals company's stock valued at $3,866,000 after buying an additional 778 shares during the period. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of International Flavors & Fragrances by 10.6% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 3,560 shares of the specialty chemicals company's stock valued at $536,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 90.67% of the company's stock.
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Wall Street Analyst Weigh In
IFF has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on International Flavors & Fragrances from $145.00 to $150.00 in a report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft cut their price objective on International Flavors & Fragrances from $165.00 to $145.00 in a report on Thursday, May 12th. Bank of America cut their price objective on International Flavors & Fragrances from $169.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, July 13th. Jefferies Financial Group downgraded International Flavors & Fragrances from a "buy" rating to a "hold" rating and cut their price objective for the company from $170.00 to $101.00 in a report on Thursday, June 16th. Finally, StockNews.com upgraded International Flavors & Fragrances from a "sell" rating to a "hold" rating in a report on Wednesday, May 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $148.92.
International Flavors & Fragrances Trading Down 0.1 %
NYSE:IFF opened at $122.26 on Monday. The stock has a 50-day simple moving average of $122.32 and a 200-day simple moving average of $127.14. The stock has a market cap of $31.16 billion, a P/E ratio of 56.08, a P/E/G ratio of 2.13 and a beta of 1.02. International Flavors & Fragrances Inc. has a 1 year low of $105.38 and a 1 year high of $157.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.86.
International Flavors & Fragrances (NYSE:IFF – Get Rating) last released its quarterly earnings data on Monday, May 9th. The specialty chemicals company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.38. The business had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.09 billion. International Flavors & Fragrances had a return on equity of 6.89% and a net margin of 4.48%. The business's quarterly revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 EPS. As a group, analysts anticipate that International Flavors & Fragrances Inc. will post 5.76 earnings per share for the current fiscal year.
International Flavors & Fragrances Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Friday, June 24th were given a dividend of $0.79 per share. The ex-dividend date was Thursday, June 23rd. This represents a $3.16 annualized dividend and a dividend yield of 2.58%. International Flavors & Fragrances's dividend payout ratio is currently 144.95%.
Insider Transactions at International Flavors & Fragrances
In other news, insider De Villeplee Christoph Fauchon sold 629 shares of the company's stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $132.59, for a total transaction of $83,399.11. Following the completion of the transaction, the insider now directly owns 8,180 shares of the company's stock, valued at approximately $1,084,586.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.
About International Flavors & Fragrances
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International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through Nourish, Scent, Health & Biosciences, and Pharma Solutions segments.
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