Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,777 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFFGet Rating) by 10.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,304 shares of the specialty chemicals company’s stock after acquiring an additional 1,777 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in International Flavors & Fragrances were worth $2,180,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of International Flavors & Fragrances by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 30,734,865 shares of the specialty chemicals company’s stock worth $4,036,409,000 after acquiring an additional 467,562 shares in the last quarter. BlackRock Inc. grew its stake in shares of International Flavors & Fragrances by 4.0% in the first quarter. BlackRock Inc. now owns 19,967,248 shares of the specialty chemicals company’s stock valued at $2,622,298,000 after buying an additional 768,929 shares in the last quarter. State Street Corp grew its stake in shares of International Flavors & Fragrances by 3.6% in the fourth quarter. State Street Corp now owns 11,148,782 shares of the specialty chemicals company’s stock valued at $1,688,186,000 after buying an additional 387,423 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of International Flavors & Fragrances by 36.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,699,795 shares of the specialty chemicals company’s stock valued at $748,555,000 after buying an additional 1,525,828 shares in the last quarter. Finally, LTS One Management LP bought a new position in shares of International Flavors & Fragrances in the fourth quarter valued at $790,913,000. 89.74% of the stock is owned by institutional investors.

Insider Activity at International Flavors & Fragrances

In related news, EVP Francisco Fortanet sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the transaction, the executive vice president now owns 17,237 shares of the company’s stock, valued at $2,154,625. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

International Flavors & Fragrances Stock Down 0.7 %

IFF opened at $97.66 on Friday. International Flavors & Fragrances Inc. has a fifty-two week low of $96.73 and a fifty-two week high of $155.00. 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 has a market capitalization of $24.90 billion, a P/E ratio of 39.06, a P/E/G ratio of 1.91 and a beta of 1.02. The stock has a fifty day moving average of $116.43 and a 200-day moving average of $121.52.

International Flavors & Fragrances (NYSE:IFFGet Rating) last posted its earnings results on Monday, August 8th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.12. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.25 billion. International Flavors & Fragrances had a return on equity of 7.05% and a net margin of 5.03%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 earnings per share. On average, equities analysts expect that International Flavors & Fragrances Inc. will post 5.76 EPS for the current year.

International Flavors & Fragrances Increases Dividend

The business 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. This represents a $3.24 dividend on an annualized basis and a yield of 3.32%. 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. International Flavors & Fragrances’s payout ratio is 126.40%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of International Flavors & Fragrances from $150.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, August 10th. Bank of America decreased their target price on shares of International Flavors & Fragrances from $169.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Barclays lifted their price objective 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. Credit Suisse Group initiated coverage on shares of International Flavors & Fragrances in a research report on Monday, June 27th. They set an “outperform” rating and a $145.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on shares of International Flavors & Fragrances from $160.00 to $149.00 and set an “overweight” rating for the company in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and an average price target of $144.14.

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.

See Also

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

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