Ballentine Partners LLC Raises Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

by · The Markets Daily

Ballentine Partners LLC lifted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 235.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,549 shares of the specialty chemicals company’s stock after purchasing an additional 13,714 shares during the period. Ballentine Partners LLC’s holdings in International Flavors & Fragrances were worth $2,051,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pictet North America Advisors SA raised its stake in shares of International Flavors & Fragrances by 3.1% in the third quarter. Pictet North America Advisors SA now owns 3,275 shares of the specialty chemicals company’s stock valued at $344,000 after acquiring an additional 99 shares in the last quarter. CWM LLC raised its position in International Flavors & Fragrances by 1.7% in the 3rd quarter. CWM LLC now owns 6,540 shares of the specialty chemicals company’s stock valued at $686,000 after purchasing an additional 109 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 5.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 2,471 shares of the specialty chemicals company’s stock valued at $236,000 after buying an additional 117 shares during the period. Orca Investment Management LLC increased its stake in shares of International Flavors & Fragrances by 0.6% during the third quarter. Orca Investment Management LLC now owns 21,266 shares of the specialty chemicals company’s stock worth $2,231,000 after buying an additional 122 shares during the period. Finally, Koss Olinger Consulting LLC raised its holdings in International Flavors & Fragrances by 0.9% in the third quarter. Koss Olinger Consulting LLC now owns 14,517 shares of the specialty chemicals company’s stock valued at $1,523,000 after acquiring an additional 128 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho raised shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Morgan Stanley raised their price target on International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 3rd. Stifel Nicolaus upped their price objective on International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group decreased their target price on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Barclays increased their price target on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and a consensus target price of $107.86.

Check Out Our Latest Stock Report on International Flavors & Fragrances

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $101.45 on Friday. The stock’s 50-day moving average price is $102.89 and its 200 day moving average price is $97.20. The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $25.94 billion, a PE ratio of -11.00, a price-to-earnings-growth ratio of 1.86 and a beta of 1.22. International Flavors & Fragrances Inc. has a 52-week low of $63.21 and a 52-week high of $106.77.

International Flavors & Fragrances (NYSE:IFF – Get Free Report) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.23 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 20th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.60 annualized dividend and a yield of 1.58%. International Flavors & Fragrances’s dividend payout ratio is currently -17.35%.

About International Flavors & Fragrances

(Free Report)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.

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