Exchange Traded Concepts LLC Buys 30,980 Shares of International Flavors & Fragrances Inc. $IFF

Exchange Traded Concepts LLC raised its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 189.6% in the third quarter, HoldingsChannel reports. The fund owned 47,318 shares of the specialty chemicals company’s stock after acquiring an additional 30,980 shares during the period. Exchange Traded Concepts LLC’s holdings in International Flavors & Fragrances were worth $2,912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in IFF. Dodge & Cox boosted its stake in International Flavors & Fragrances by 3.8% in the 2nd quarter. Dodge & Cox now owns 35,047,387 shares of the specialty chemicals company’s stock valued at $2,577,735,000 after purchasing an additional 1,272,780 shares during the period. Vanguard Group Inc. grew its stake in shares of International Flavors & Fragrances by 1.6% in the second quarter. Vanguard Group Inc. now owns 30,880,203 shares of the specialty chemicals company’s stock valued at $2,271,239,000 after acquiring an additional 490,163 shares in the last quarter. State Street Corp increased its position in International Flavors & Fragrances by 3.6% during the second quarter. State Street Corp now owns 10,884,974 shares of the specialty chemicals company’s stock worth $804,753,000 after acquiring an additional 381,593 shares during the period. Geode Capital Management LLC raised its stake in International Flavors & Fragrances by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 6,459,129 shares of the specialty chemicals company’s stock worth $473,036,000 after purchasing an additional 123,520 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in International Flavors & Fragrances by 122.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,441,094 shares of the specialty chemicals company’s stock valued at $400,192,000 after purchasing an additional 2,991,405 shares during the period. Institutional investors own 96.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IFF. Bank of America reduced their target price on International Flavors & Fragrances from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. BNP Paribas Exane decreased their target price on shares of International Flavors & Fragrances from $96.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. BNP Paribas dropped their price objective on shares of International Flavors & Fragrances from $92.00 to $91.00 in a report on Monday, September 29th. Berenberg Bank lowered their target price on International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating for the company in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of International Flavors & Fragrances in a research note on Monday. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.02.

International Flavors & Fragrances Stock Performance

IFF opened at $65.71 on Friday. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $88.09. The company has a market cap of $16.83 billion, a price-to-earnings ratio of -40.56, a PEG ratio of 2.72 and a beta of 1.03. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $65.47 and its two-hundred day moving average price is $67.77.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. The business had revenue of $2.69 billion during 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 company’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 EPS. On average, analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.