DAVENPORT & Co LLC Acquires 9,486 Shares of International Flavors & Fragrances Inc. $IFF

DAVENPORT & Co LLC lifted its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 24.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,886 shares of the specialty chemicals company’s stock after purchasing an additional 9,486 shares during the period. DAVENPORT & Co LLC’s holdings in International Flavors & Fragrances were worth $2,925,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its holdings in International Flavors & Fragrances by 3.8% during the third quarter. IFM Investors Pty Ltd now owns 56,298 shares of the specialty chemicals company’s stock worth $3,418,000 after buying an additional 2,084 shares during the last quarter. OFI Invest Asset Management boosted its stake in International Flavors & Fragrances by 92.3% during the 3rd quarter. OFI Invest Asset Management now owns 407,989 shares of the specialty chemicals company’s stock worth $25,108,000 after acquiring an additional 195,786 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in International Flavors & Fragrances by 189.6% during the third quarter. Exchange Traded Concepts LLC now owns 47,318 shares of the specialty chemicals company’s stock valued at $2,912,000 after purchasing an additional 30,980 shares during the period. Brighton Jones LLC bought a new stake in International Flavors & Fragrances in the third quarter valued at approximately $387,000. Finally, Hedges Asset Management LLC raised its holdings in International Flavors & Fragrances by 58.9% in the third quarter. Hedges Asset Management LLC now owns 17,800 shares of the specialty chemicals company’s stock worth $1,095,000 after purchasing an additional 6,600 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Up 0.9%

Shares of International Flavors & Fragrances stock opened at $67.49 on Friday. The firm has a market cap of $17.28 billion, a PE ratio of -41.66, a P/E/G ratio of 2.72 and a beta of 1.03. The business’s 50 day simple moving average is $65.54 and its 200 day simple moving average is $67.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.44. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $88.09.

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

International Flavors & Fragrances Announces Dividend

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

Analyst Ratings Changes

IFF has been the subject of a number of recent analyst reports. Argus lowered their price objective on shares of International Flavors & Fragrances from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Morgan Stanley lowered their price target on International Flavors & Fragrances from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, September 22nd. UBS Group raised their price target on International Flavors & Fragrances from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Wolfe Research upgraded International Flavors & Fragrances from an “underperform” rating to a “peer perform” rating in a research report on Monday, September 8th. Finally, Mizuho dropped their target price on shares of International Flavors & Fragrances from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.02.

International Flavors & Fragrances Profile

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.