ASR Vermogensbeheer N.V. Makes New Investment in International Flavors & Fragrances Inc. (NYSE:IFF)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) by purchasing 46,564 shares valued at around $3.6 million during the 1st quarter.
• Analysts have mixed sentiments on IFF, with a consensus rating of "Moderate Buy" and an average price target of $92.79, despite some downgrades from brokerages like Oppenheimer.
• The company reported $1.15 EPS for the last quarter, exceeding expectations, but its revenue of $2.76 billion showed a 4.3% decline year-over-year.

ASR Vermogensbeheer N.V. bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,564 shares of the specialty chemicals company's stock, valued at approximately $3,614,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of International Flavors & Fragrances by 11.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock valued at $6,525,000 after acquiring an additional 8,490 shares during the period. Manning & Napier Advisors LLC purchased a new stake in International Flavors & Fragrances in the 1st quarter worth about $1,271,000. Royal Bank of Canada lifted its stake in International Flavors & Fragrances by 23.6% in the fourth quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock worth $30,529,000 after purchasing an additional 68,970 shares during the last quarter. Chicago Capital LLC purchased a new position in shares of International Flavors & Fragrances during the first quarter valued at approximately $688,000. Finally, Achmea Investment Management B.V. grew its stake in shares of International Flavors & Fragrances by 126.1% during the first quarter. Achmea Investment Management B.V. now owns 29,344 shares of the specialty chemicals company's stock valued at $2,277,000 after buying an additional 16,368 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IFF shares. Barclays dropped their price objective on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a report on Friday. Wells Fargo & Company cut their price target on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Mizuho decreased their price objective on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. UBS Group reduced their target price on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, International Flavors & Fragrances has a consensus rating of "Moderate Buy" and an average target price of $92.36.

Insiders Place Their Bets

In other news, Director Kevin O'byrne bought 4,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $76.05 per share, with a total value of $342,225.00. Following the completion of the acquisition, the director directly owned 7,696 shares of the company's stock, valued at $585,280.80. This trade represents a 140.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mehmood Khan purchased 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $75.33 per share, for a total transaction of $301,320.00. Following the acquisition, the director owned 4,604 shares in the company, valued at $346,819.32. This trade represents a 662.25% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 52,100 shares of company stock valued at $3,631,607. Insiders own 0.17% of the company's stock.

International Flavors & Fragrances Stock Up 1.0%

Shares of International Flavors & Fragrances stock traded up $0.62 on Tuesday, reaching $64.08. The stock had a trading volume of 1,275,267 shares, compared to its average volume of 1,791,152. The company has a 50 day moving average price of $74.41 and a 200 day moving average price of $77.11. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39. International Flavors & Fragrances Inc. has a 1 year low of $62.33 and a 1 year high of $106.77. The stock has a market capitalization of $16.42 billion, a P/E ratio of -41.37, a P/E/G ratio of 2.43 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.04. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same period last year, the business earned $1.16 EPS. International Flavors & Fragrances's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's payout ratio is presently -103.23%.

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.