Bank of New York Mellon Corp Grows Stock Holdings in International Flavors & Fragrances Inc. $IFF

Bank of New York Mellon Corp raised its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 0.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,598,636 shares of the specialty chemicals company’s stock after buying an additional 10,654 shares during the period. Bank of New York Mellon Corp’s holdings in International Flavors & Fragrances were worth $115,981,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in International Flavors & Fragrances by 1.1% in the fourth quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company’s stock valued at $751,875,000 after acquiring an additional 121,260 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of International Flavors & Fragrances by 27.5% during the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock worth $595,166,000 after purchasing an additional 1,904,598 shares during the period. Invesco Ltd. raised its holdings in International Flavors & Fragrances by 4.9% in the 4th quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock valued at $506,760,000 after buying an additional 352,636 shares during the period. Geode Capital Management LLC lifted its position in International Flavors & Fragrances by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company’s stock valued at $454,607,000 after buying an additional 172,781 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in International Flavors & Fragrances by 28.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,042,758 shares of the specialty chemicals company’s stock worth $407,221,000 after buying an additional 1,336,479 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Benchmark initiated coverage on International Flavors & Fragrances in a research report on Tuesday, June 9th. They set a “buy” rating and a $100.00 price objective on the stock. BNP Paribas Exane increased their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Berenberg Bank increased their price target on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a research report on Thursday, May 7th. Finally, Oppenheimer upped their target price on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.16.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $77.33 on Tuesday. The company has a market capitalization of $19.74 billion, a PE ratio of 23.65, a P/E/G ratio of 1.82 and a beta of 0.93. 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 simple moving average of $76.59 and a 200-day simple moving average of $74.44. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, topping 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 business 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 firm earned $1.20 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts predict that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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

Insiders Place Their Bets

In other news, Director Paul J. Fribourg acquired 260,000 shares of the stock in a transaction on Monday, June 1st. The stock was bought at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the transaction, the director directly owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.07% of the company’s stock.

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.