Mirae Asset Global Investments Co. Ltd. Acquires 7,468 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in International Flavors & Fragrances Inc. (NYSE:IFFGet Rating) by 14.7% during the first quarter, HoldingsChannel.com reports. The firm owned 58,328 shares of the specialty chemicals company’s stock after purchasing an additional 7,468 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in International Flavors & Fragrances were worth $7,660,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Covestor Ltd bought a new stake in International Flavors & Fragrances during the fourth quarter worth $25,000. Atwood & Palmer Inc. raised its position in International Flavors & Fragrances by 1,718.2% during the first quarter. Atwood & Palmer Inc. now owns 200 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 189 shares in the last quarter. CVA Family Office LLC raised its position in International Flavors & Fragrances by 512.5% during the first quarter. CVA Family Office LLC now owns 245 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 205 shares in the last quarter. Nauset Wealth Management. LLC bought a new stake in International Flavors & Fragrances during the first quarter worth $37,000. Finally, Allworth Financial LP raised its position in International Flavors & Fragrances by 330.6% during the first quarter. Allworth Financial LP now owns 310 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 89.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on IFF. Barclays upped their price target on shares of International Flavors & Fragrances from $102.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, August 11th. Morgan Stanley dropped their price target on shares of International Flavors & Fragrances from $160.00 to $149.00 and set an “overweight” rating on the stock in a research report on Thursday, August 11th. Credit Suisse Group assumed coverage on shares of International Flavors & Fragrances in a report on Monday, June 27th. They issued an “outperform” rating and a $145.00 price objective on the stock. Jefferies Financial Group downgraded shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and decreased their price objective for the company from $170.00 to $101.00 in a report on Thursday, June 16th. Finally, Wells Fargo & Company decreased their price objective on shares of International Flavors & Fragrances from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Flavors & Fragrances has an average rating of “Moderate Buy” and an average price target of $144.14.

International Flavors & Fragrances Trading Down 2.4 %

IFF stock opened at $99.15 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.64. The company’s 50-day simple moving average is $116.74 and its 200 day simple moving average is $121.65. International Flavors & Fragrances Inc. has a 52 week low of $99.10 and a 52 week high of $155.00. The company has a market capitalization of $25.28 billion, a PE ratio of 39.66, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02.

International Flavors & Fragrances (NYSE:IFFGet Rating) last released its quarterly earnings results on Monday, August 8th. The specialty chemicals company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.42 by $0.12. International Flavors & Fragrances had a net margin of 5.03% and a return on equity of 7.05%. The business had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the company posted $1.50 earnings per share. International Flavors & Fragrances’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 5.76 earnings per share for the current year.

International Flavors & Fragrances Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Friday, September 23rd will be paid a $0.81 dividend. The ex-dividend date of this dividend is Thursday, September 22nd. This is an increase from International Flavors & Fragrances’s previous quarterly dividend of $0.79. This represents a $3.24 annualized dividend and a dividend yield of 3.27%. International Flavors & Fragrances’s dividend payout ratio is 126.40%.

Insiders Place Their Bets

In other International Flavors & Fragrances news, EVP Francisco Fortanet sold 10,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president now directly owns 17,237 shares in the company, valued at $2,154,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Company Profile

(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.

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

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