Empire Life Investments Inc. raised its position in shares of International Flavors & Fragrances Inc (NYSE:IFF) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,312 shares of the specialty chemicals company’s stock after purchasing an additional 486 shares during the quarter. Empire Life Investments Inc.’s holdings in International Flavors & Fragrances were worth $4,626,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of IFF. Bank of Nova Scotia Trust Co. bought a new position in International Flavors & Fragrances in the third quarter worth about $118,000. Baldwin Brothers Inc. MA purchased a new stake in International Flavors & Fragrances in the 4th quarter worth approximately $188,000. SeaCrest Wealth Management LLC purchased a new stake in International Flavors & Fragrances in the 4th quarter worth approximately $190,000. HL Financial Services LLC purchased a new stake in International Flavors & Fragrances in the 3rd quarter worth approximately $207,000. Finally, Advisor Partners LLC purchased a new stake in International Flavors & Fragrances in the 4th quarter worth approximately $244,000. 83.59% of the stock is currently owned by institutional investors and hedge funds.
International Flavors & Fragrances Inc (NYSE:IFF) opened at $141.01 on Monday. International Flavors & Fragrances Inc has a 52-week low of $124.33 and a 52-week high of $157.40. The stock has a market capitalization of $11,129.59, a P/E ratio of 23.94, a PEG ratio of 2.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.62 and a current ratio of 2.47.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Monday, March 26th will be issued a $0.69 dividend. The ex-dividend date is Friday, March 23rd. This represents a $2.76 dividend on an annualized basis and a yield of 1.96%. International Flavors & Fragrances’s payout ratio is currently 74.39%.
IFF has been the topic of a number of recent analyst reports. Zacks Investment Research lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Evercore ISI upgraded International Flavors & Fragrances from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 17th. Deutsche Bank decreased their target price on International Flavors & Fragrances from $150.00 to $147.00 and set a “hold” rating on the stock in a research report on Thursday, February 15th. Finally, KeyCorp decreased their target price on International Flavors & Fragrances from $162.00 to $156.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. International Flavors & Fragrances has an average rating of “Hold” and a consensus target price of $151.86.
In other International Flavors & Fragrances news, EVP Francisco Fortanet sold 603 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $141.94, for a total value of $85,589.82. Following the transaction, the executive vice president now owns 38,393 shares in the company, valued at approximately $5,449,502.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.
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About International Flavors & Fragrances
International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.
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