Cary Street Partners Financial LLC Acquires Shares of 3,584 International Flavors & Fragrances Inc. (NYSE:IFF)

Cary Street Partners Financial LLC bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,584 shares of the specialty chemicals company's stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Castlekeep Investment Advisors LLC purchased a new position in International Flavors & Fragrances in the fourth quarter worth about $415,000. Baird Financial Group Inc. lifted its holdings in International Flavors & Fragrances by 2.3% during the fourth quarter. Baird Financial Group Inc. now owns 55,106 shares of the specialty chemicals company's stock valued at $4,659,000 after purchasing an additional 1,230 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of International Flavors & Fragrances by 44.9% in the fourth quarter. BNP Paribas Financial Markets now owns 528,111 shares of the specialty chemicals company's stock worth $44,652,000 after purchasing an additional 163,534 shares during the period. Algert Global LLC raised its position in shares of International Flavors & Fragrances by 68.2% during the 4th quarter. Algert Global LLC now owns 5,887 shares of the specialty chemicals company's stock valued at $498,000 after purchasing an additional 2,387 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of International Flavors & Fragrances by 184.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 568,199 shares of the specialty chemicals company's stock valued at $48,041,000 after purchasing an additional 368,769 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Price Performance

Shares of IFF traded down $1.79 during mid-day trading on Wednesday, hitting $74.71. 2,098,746 shares of the stock were exchanged, compared to its average volume of 1,525,571. The company has a market cap of $19.11 billion, a PE ratio of 79.48, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. International Flavors & Fragrances Inc. has a 52-week low of $65.85 and a 52-week high of $106.77. The firm has a 50-day moving average of $76.18 and a two-hundred day moving average of $83.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.08. The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.83 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The company's revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. On average, equities analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, June 20th. International Flavors & Fragrances's dividend payout ratio is currently -48.93%.

Insider Activity

In related news, CEO J Erik Fyrwald bought 700 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $74.00 per share, with a total value of $51,800.00. Following the transaction, the chief executive officer now owns 37,770 shares in the company, valued at $2,794,980. This trade represents a 1.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin O'byrne bought 6,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $80.44 per share, for a total transaction of $522,860.00. Following the transaction, the director now owns 6,500 shares in the company, valued at approximately $522,860. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Oppenheimer decreased their price objective on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Mizuho lowered their price target on International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Finally, Barclays raised International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.54.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division.