Amundi Purchases 47,711 Shares of International Flavors & Fragrances Inc. $IFF

Amundi boosted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 9.6% during the 2nd quarter, Holdings Channel reports. The firm owned 545,538 shares of the specialty chemicals company’s stock after acquiring an additional 47,711 shares during the period. Amundi’s holdings in International Flavors & Fragrances were worth $41,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IFF. Blue Trust Inc. raised its holdings in International Flavors & Fragrances by 7.6% during the 2nd quarter. Blue Trust Inc. now owns 2,184 shares of the specialty chemicals company’s stock valued at $161,000 after acquiring an additional 155 shares during the period. Horizon Investments LLC increased its stake in International Flavors & Fragrances by 4.9% in the 1st quarter. Horizon Investments LLC now owns 3,671 shares of the specialty chemicals company’s stock worth $285,000 after acquiring an additional 172 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of International Flavors & Fragrances by 17.3% in the 2nd quarter. UMB Bank n.a. now owns 1,290 shares of the specialty chemicals company’s stock valued at $95,000 after acquiring an additional 190 shares in the last quarter. Eastern Bank grew its position in International Flavors & Fragrances by 43.9% in the second quarter. Eastern Bank now owns 633 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 193 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in shares of International Flavors & Fragrances by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock valued at $5,113,000 after purchasing an additional 200 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Stock Down 1.3%

IFF stock opened at $64.50 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $64.52 and a 200 day moving average of $68.59. The stock has a market capitalization of $16.52 billion, a PE ratio of -39.81, a price-to-earnings-growth ratio of 2.65 and a beta of 1.03. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $89.28.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.03. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.65 billion. International Flavors & Fragrances had a negative net margin of 3.72% and a positive return on equity of 8.03%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 earnings per share. Sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be issued a $0.40 dividend. The ex-dividend date is Friday, December 19th. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -98.77%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IFF shares. BNP Paribas cut their target price on shares of International Flavors & Fragrances from $92.00 to $91.00 in a report on Monday, September 29th. Bank of America dropped their target price on shares of International Flavors & Fragrances from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Berenberg Bank lowered their target price on International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating on the stock in a research report on Monday, September 29th. Barclays upped their price target on shares of International Flavors & Fragrances from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Wolfe Research raised shares of International Flavors & Fragrances from an “underperform” rating to a “peer perform” rating in a research note on Monday, September 8th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.02.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.