ARGA Investment Management LP lifted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF – Get Rating) by 28.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,261 shares of the specialty chemicals company's stock after buying an additional 1,382 shares during the quarter. ARGA Investment Management LP's holdings in International Flavors & Fragrances were worth $822,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Fairfield Bush & CO. boosted its position in International Flavors & Fragrances by 11.7% during the first quarter. Fairfield Bush & CO. now owns 4,791 shares of the specialty chemicals company's stock valued at $629,000 after purchasing an additional 500 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in International Flavors & Fragrances by 2.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 269,863 shares of the specialty chemicals company's stock valued at $35,441,000 after purchasing an additional 6,900 shares in the last quarter. AIA Group Ltd boosted its position in International Flavors & Fragrances by 239.4% during the first quarter. AIA Group Ltd now owns 4,606 shares of the specialty chemicals company's stock valued at $605,000 after purchasing an additional 3,249 shares in the last quarter. CIBC Asset Management Inc boosted its position in International Flavors & Fragrances by 1.0% during the first quarter. CIBC Asset Management Inc now owns 23,991 shares of the specialty chemicals company's stock valued at $3,151,000 after purchasing an additional 242 shares in the last quarter. Finally, IndexIQ Advisors LLC boosted its position in International Flavors & Fragrances by 1.5% during the first quarter. IndexIQ Advisors LLC now owns 5,680 shares of the specialty chemicals company's stock valued at $746,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 90.67% of the company's stock.
Get
International Flavors & Fragrances alerts:
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Credit Suisse Group assumed coverage on International Flavors & Fragrances in a report on Monday, June 27th. They issued an "outperform" rating and a $145.00 price target for the company. Bank of America lowered their price target on International Flavors & Fragrances from $169.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, July 13th. StockNews.com raised International Flavors & Fragrances from a "sell" rating to a "hold" rating in a report on Wednesday, May 18th. Wells Fargo & Company raised their price target on International Flavors & Fragrances from $145.00 to $150.00 in a report on Wednesday, May 11th. Finally, Jefferies Financial Group cut International Flavors & Fragrances from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $170.00 to $101.00 in a research note on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $148.92.
International Flavors & Fragrances Stock Down 0.7 %
Shares of IFF stock opened at $124.24 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. International Flavors & Fragrances Inc. has a twelve month low of $105.38 and a twelve month high of $157.08. The stock has a 50 day moving average of $121.57 and a 200 day moving average of $126.23. The stock has a market cap of $31.66 billion, a P/E ratio of 56.99, a P/E/G ratio of 2.18 and a beta of 0.99.
International Flavors & Fragrances (NYSE:IFF – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The specialty chemicals company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.31 by $0.38. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.09 billion. International Flavors & Fragrances had a return on equity of 6.89% and a net margin of 4.48%. International Flavors & Fragrances's quarterly revenue was up 30.9% compared to the same quarter last year. During the same period last year, the company earned $1.60 earnings per share. As a group, sell-side analysts expect that International Flavors & Fragrances Inc. will post 5.76 EPS for the current year.
International Flavors & Fragrances Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Friday, June 24th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, June 23rd. International Flavors & Fragrances's dividend payout ratio is presently 144.95%.
Insider Transactions at International Flavors & Fragrances
In other news, insider De Villeplee Christoph Fauchon sold 629 shares of International Flavors & Fragrances stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $132.59, for a total value of $83,399.11. Following the sale, the insider now directly owns 8,180 shares of the company's stock, valued at $1,084,586.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.
About International Flavors & Fragrances
(Get Rating)
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.
Recommended Stories
- Get a free copy of the StockNews.com research report on International Flavors & Fragrances (IFF)
- AutoNation Stock is Firing on All Pistons
- Caterpillar Falls To Strong Support Near Bottom Of Range
- AMD Q2 Earnings Beat Expectations Significantly, Is AMD A Buy?
- 3 Health Care Stocks in Great Financial Health
- Amazon Names Itself A Top Stock Of Q3 Contender
Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc. (NYSE:IFF – Get Rating).
Receive News & Ratings for International Flavors & Fragrances Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Flavors & Fragrances and related companies with MarketBeat.com's FREE daily email newsletter.