Blueshift Asset Management LLC Takes $382,000 Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Key Points

• Blueshift Asset Management LLC has acquired 4,917 shares of International Flavors & Fragrances Inc. (NYSE:IFF), valued at approximately $382,000, marking its initial investment in the company.
• Institutional investment in IFF is significant, with hedge funds owning 96.02% of the company's stock, and several firms reporting substantial increases in their holdings during the first quarter.
• International Flavors & Fragrances recently declared a quarterly dividend of $0.40 per share, with the payout date set for October 10th, providing a yield of 2.3% for shareholders.

Blueshift Asset Management LLC purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,917 shares of the specialty chemicals company's stock, valued at approximately $382,000.

Several other hedge funds also recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in shares of International Flavors & Fragrances by 10.6% during the 4th quarter. Alliancebernstein L.P. now owns 576,058 shares of the specialty chemicals company's stock worth $48,706,000 after acquiring an additional 55,092 shares during the period. Franklin Resources Inc. lifted its holdings in shares of International Flavors & Fragrances by 101.9% during the 4th quarter. Franklin Resources Inc. now owns 85,156 shares of the specialty chemicals company's stock worth $7,200,000 after acquiring an additional 42,978 shares during the period. Huntington National Bank raised its holdings in International Flavors & Fragrances by 5.3% in the fourth quarter. Huntington National Bank now owns 4,314 shares of the specialty chemicals company's stock valued at $365,000 after buying an additional 219 shares during the period. Arete Wealth Advisors LLC raised its holdings in International Flavors & Fragrances by 16.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 3,561 shares of the specialty chemicals company's stock valued at $301,000 after buying an additional 500 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in International Flavors & Fragrances in the fourth quarter valued at approximately $6,453,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IFF shares. UBS Group cut their price target on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday. Mizuho dropped their price objective on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Tigress Financial initiated coverage on shares of International Flavors & Fragrances in a research note on Wednesday, June 4th. They set a "buy" rating and a $105.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Robert W. Baird decreased their price target on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, International Flavors & Fragrances has an average rating of "Moderate Buy" and a consensus price target of $93.14.

Insiders Place Their Bets

In other International Flavors & Fragrances news, CAO Beril Yildiz sold 2,400 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $77.33, for a total transaction of $185,592.00. Following the completion of the sale, the chief accounting officer owned 3,321 shares of the company's stock, valued at $256,812.93. This represents a 41.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hernandez Margarita Palau purchased 850 shares of the business's stock in a transaction dated Monday, May 19th. The shares were acquired at an average price of $77.42 per share, with a total value of $65,807.00. Following the completion of the acquisition, the director owned 2,393 shares of the company's stock, valued at approximately $185,266.06. The trade was a 55.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 21,350 shares of company stock valued at $1,636,712 over the last ninety days. Insiders own 0.20% of the company's stock.

International Flavors & Fragrances Trading Down 1.4%

IFF stock traded down $0.91 during mid-day trading on Thursday, reaching $65.25. 431,574 shares of the stock traded hands, compared to its average volume of 1,739,517. The company has a current ratio of 1.87, a quick ratio of 1.39 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 52-week low of $63.71 and a 52-week high of $106.77. The company has a market cap of $16.69 billion, a P/E ratio of -42.17, a P/E/G ratio of 3.12 and a beta of 1.04. The stock's fifty day moving average is $75.15 and its 200-day moving average is $77.68.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, beating 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 8.01%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The business's quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio is -48.93%.

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.