Bank of New York Mellon Corp Boosts Position in International Flavors & Fragrances Inc. $IFF

Bank of New York Mellon Corp boosted its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,587,982 shares of the specialty chemicals company’s stock after buying an additional 226,148 shares during the quarter. Bank of New York Mellon Corp’s holdings in International Flavors & Fragrances were worth $107,014,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in International Flavors & Fragrances by 23.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,741,248 shares of the specialty chemicals company’s stock valued at $117,343,000 after purchasing an additional 328,202 shares in the last quarter. Natixis Advisors LLC grew its holdings in International Flavors & Fragrances by 291.5% during the 4th quarter. Natixis Advisors LLC now owns 435,809 shares of the specialty chemicals company’s stock worth $29,369,000 after acquiring an additional 324,491 shares in the last quarter. BW Gestao de Investimentos Ltda. increased its position in International Flavors & Fragrances by 18.0% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 254,304 shares of the specialty chemicals company’s stock valued at $17,138,000 after purchasing an additional 38,749 shares during the period. New Mexico Educational Retirement Board raised its holdings in shares of International Flavors & Fragrances by 2.6% in the 4th quarter. New Mexico Educational Retirement Board now owns 11,877 shares of the specialty chemicals company’s stock valued at $800,000 after purchasing an additional 300 shares in the last quarter. Finally, Ellevest Inc. raised its holdings in shares of International Flavors & Fragrances by 13.7% in the 4th quarter. Ellevest Inc. now owns 13,768 shares of the specialty chemicals company’s stock valued at $928,000 after purchasing an additional 1,656 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 260,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the transaction, the director directly owned 2,682,730 shares of the company’s stock, valued at approximately $199,273,184.40. This represents a 10.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders acquired 415,500 shares of company stock worth $30,276,875. 1.07% of the stock is owned by insiders.

International Flavors & Fragrances Trading Up 0.2%

NYSE IFF opened at $73.18 on Monday. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45. The company has a 50 day moving average price of $73.72 and a 200 day moving average price of $72.03. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The firm has a market cap of $18.68 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share 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 company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the firm earned $1.20 earnings per share. International Flavors & Fragrances’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.56 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 48.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IFF shares. Weiss Ratings upgraded shares of International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Citigroup boosted their price objective on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company increased their target price on International Flavors & Fragrances from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft cut their price target on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, Barclays boosted their price target on International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, International Flavors & Fragrances has an average rating of “Moderate Buy” and a consensus price target of $90.49.

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.