Choate Investment Advisors Invests $1.79 Million in International Flavors & Fragrances Inc. $IFF

Choate Investment Advisors purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,612 shares of the specialty chemicals company’s stock, valued at approximately $1,793,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. DNB Asset Management AS boosted its position in shares of International Flavors & Fragrances by 0.3% during the fourth quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock worth $3,622,000 after purchasing an additional 139 shares in the last quarter. Rafferty Asset Management LLC boosted its position in shares of International Flavors & Fragrances by 0.7% during the third quarter. Rafferty Asset Management LLC now owns 21,837 shares of the specialty chemicals company’s stock worth $1,344,000 after purchasing an additional 158 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of International Flavors & Fragrances by 6.1% during the third quarter. Clearstead Advisors LLC now owns 3,021 shares of the specialty chemicals company’s stock worth $186,000 after purchasing an additional 173 shares in the last quarter. Parr Mcknight Wealth Management Group LLC lifted its position in International Flavors & Fragrances by 0.9% in the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 23,129 shares of the specialty chemicals company’s stock valued at $1,423,000 after acquiring an additional 199 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in International Flavors & Fragrances by 0.3% in the 4th quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock valued at $4,685,000 after acquiring an additional 200 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Trading Up 0.1%

IFF opened at $75.32 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $84.45. The firm’s fifty day simple moving average is $72.65 and its 200 day simple moving average is $71.37. The stock has a market capitalization of $19.23 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.66 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the business earned $1.20 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts anticipate that International Flavors & Fragrances Inc. will post 4.55 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, June 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, June 18th. International Flavors & Fragrances’s payout ratio is presently 48.93%.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 142,000 shares of the stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $70.13 per share, for a total transaction of $9,958,460.00. Following the purchase, the director owned 2,422,730 shares of the company’s stock, valued at approximately $169,906,054.90. This represents a 6.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IFF. Barclays boosted their price objective on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Jefferies Financial Group boosted their price objective on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Rothschild & Co Redburn cut their price objective on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. BNP Paribas Exane boosted their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Finally, Mizuho boosted their price objective on shares of International Flavors & Fragrances from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and a consensus price target of $90.80.

International Flavors & Fragrances Company 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.