California Public Employees Retirement System Has $32.66 Million Position in International Flavors & Fragrances Inc. $IFF

California Public Employees Retirement System lifted its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 444,096 shares of the specialty chemicals company’s stock after buying an additional 29,121 shares during the period. California Public Employees Retirement System owned about 0.17% of International Flavors & Fragrances worth $32,663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IFF. Banque Transatlantique SA acquired a new position in International Flavors & Fragrances during the first quarter valued at approximately $32,000. American National Bank & Trust raised its stake in shares of International Flavors & Fragrances by 11,975.0% during the 2nd quarter. American National Bank & Trust now owns 483 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 479 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of International Flavors & Fragrances in the 1st quarter valued at approximately $42,000. Geneos Wealth Management Inc. grew its stake in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 210 shares in the last quarter. Finally, Eastern Bank increased its holdings in International Flavors & Fragrances by 43.9% during the second quarter. Eastern Bank now owns 633 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 193 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on IFF shares. BNP Paribas decreased their price objective on shares of International Flavors & Fragrances from $92.00 to $91.00 in a research report on Monday, September 29th. BNP Paribas Exane cut their target price on shares of International Flavors & Fragrances from $96.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, September 11th. Citigroup reduced their price target on International Flavors & Fragrances from $82.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 6th. Berenberg Bank dropped their price objective on International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating on the stock in a research note on Monday, September 29th. Finally, Wolfe Research upgraded International Flavors & Fragrances from an “underperform” rating to a “peer perform” rating in a research note on Monday, September 8th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.02.

International Flavors & Fragrances Stock Up 1.4%

International Flavors & Fragrances stock opened at $65.43 on Thursday. The company’s 50-day moving average price is $64.61 and its two-hundred day moving average price is $68.57. 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 stock has a market cap of $16.76 billion, a P/E ratio of -40.39, a P/E/G ratio of 2.62 and a beta of 1.03. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $88.90.

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

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -98.77%.

International Flavors & Fragrances Profile

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.