Legacy Capital Group California Inc. Buys Shares of 2,756 International Flavors & Fragrances Inc. (NYSE:IFF)

Legacy Capital Group California Inc. bought a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,756 shares of the specialty chemicals company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in International Flavors & Fragrances by 1.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,767 shares of the specialty chemicals company’s stock valued at $3,881,000 after purchasing an additional 615 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in International Flavors & Fragrances by 5.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 151,043 shares of the specialty chemicals company’s stock valued at $11,977,000 after purchasing an additional 8,047 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of International Flavors & Fragrances by 26.7% during the 2nd quarter. Private Advisor Group LLC now owns 15,646 shares of the specialty chemicals company’s stock worth $1,289,000 after acquiring an additional 3,298 shares during the period. Trillium Asset Management LLC lifted its holdings in shares of International Flavors & Fragrances by 8.5% during the 2nd quarter. Trillium Asset Management LLC now owns 224,147 shares of the specialty chemicals company’s stock worth $17,839,000 after acquiring an additional 17,493 shares during the period. Finally, Cetera Advisor Networks LLC lifted its holdings in shares of International Flavors & Fragrances by 7.7% during the 2nd quarter. Cetera Advisor Networks LLC now owns 19,369 shares of the specialty chemicals company’s stock worth $1,542,000 after acquiring an additional 1,393 shares during the period. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IFF shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of International Flavors & Fragrances from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Citigroup cut their price objective on shares of International Flavors & Fragrances from $84.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Mizuho cut their price objective on shares of International Flavors & Fragrances from $105.00 to $70.00 in a report on Thursday, August 10th. The Goldman Sachs Group downgraded shares of International Flavors & Fragrances from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $120.00 to $78.00 in a research report on Wednesday, August 9th. Finally, UBS Group downgraded shares of International Flavors & Fragrances from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $88.00 to $78.00 in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Hold” and a consensus target price of $76.27.

International Flavors & Fragrances Stock Down 0.9 %

Shares of NYSE:IFF opened at $73.94 on Friday. International Flavors & Fragrances Inc. has a 52-week low of $62.11 and a 52-week high of $118.34. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $18.88 billion, a price-to-earnings ratio of 410.78, a price-to-earnings-growth ratio of 5.78 and a beta of 1.16. The company has a 50 day moving average of $68.10 and a two-hundred day moving average of $74.46.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Monday, November 6th. The specialty chemicals company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. International Flavors & Fragrances had a net margin of 0.40% and a return on equity of 5.22%. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the company earned $1.36 earnings per share. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. As a group, analysts forecast that International Flavors & Fragrances Inc. will post 3.35 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Thursday, December 28th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Wednesday, December 27th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 1,800.00%.

About International Flavors & Fragrances

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 four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.