BNP Paribas Financial Markets Raises Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

BNP Paribas Financial Markets raised its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 44.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 528,111 shares of the specialty chemicals company's stock after buying an additional 163,534 shares during the quarter. BNP Paribas Financial Markets owned about 0.21% of International Flavors & Fragrances worth $44,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in International Flavors & Fragrances during the 4th quarter worth approximately $452,363,000. Dodge & Cox increased its holdings in shares of International Flavors & Fragrances by 11.9% in the fourth quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock worth $2,658,063,000 after purchasing an additional 3,355,381 shares during the period. Van ECK Associates Corp raised its position in shares of International Flavors & Fragrances by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 5,664,250 shares of the specialty chemicals company's stock worth $478,912,000 after buying an additional 1,663,629 shares in the last quarter. Northern Trust Corp boosted its stake in International Flavors & Fragrances by 19.9% during the fourth quarter. Northern Trust Corp now owns 3,407,262 shares of the specialty chemicals company's stock valued at $288,084,000 after buying an additional 565,769 shares during the period. Finally, Albar Capital Partners LLP purchased a new position in International Flavors & Fragrances during the fourth quarter worth about $37,329,000. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Price Performance

IFF opened at $73.69 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. The stock's 50 day simple moving average is $76.65 and its 200 day simple moving average is $84.10. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of 78.39, a PEG ratio of 1.45 and a beta of 1.08. International Flavors & Fragrances Inc. has a 1 year low of $65.85 and a 1 year high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its earnings results 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 firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.83 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The business's revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. As a group, analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. International Flavors & Fragrances's dividend payout ratio is currently 170.21%.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Kevin O'byrne bought 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the completion of the acquisition, the director now directly owns 6,500 shares in the company, valued at $522,860. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

IFF has been the subject of a number of research analyst reports. Citigroup dropped their price target on International Flavors & Fragrances from $99.00 to $84.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Cfra cut shares of International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price target for the company. in a research note on Thursday, February 20th. Oppenheimer lowered 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. Wells Fargo & Company dropped their price objective on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, 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 research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.38.

About International Flavors & Fragrances

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.

Want to see what other hedge funds are holding IFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Flavors & Fragrances Inc. (NYSE:IFF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.