Hedges Asset Management LLC Boosts Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Hedges Asset Management LLC boosted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 87.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,800 shares of the specialty chemicals company's stock after acquiring an additional 5,500 shares during the period. Hedges Asset Management LLC's holdings in International Flavors & Fragrances were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in International Flavors & Fragrances during the first quarter valued at approximately $1,271,000. Proficio Capital Partners LLC purchased a new position in shares of International Flavors & Fragrances in the fourth quarter worth $8,099,000. Cibc World Markets Corp raised its holdings in shares of International Flavors & Fragrances by 299.1% in the fourth quarter. Cibc World Markets Corp now owns 138,522 shares of the specialty chemicals company's stock worth $11,712,000 after buying an additional 103,810 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of 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 buying an additional 68,970 shares during the last quarter. Finally, Chicago Capital LLC purchased a new position in shares of International Flavors & Fragrances in the first quarter worth $688,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Price Performance

NYSE IFF traded down $0.75 during trading hours on Monday, hitting $73.60. 2,629,627 shares of the company's stock traded hands, compared to its average volume of 1,521,548. International Flavors & Fragrances Inc. has a 52-week low of $65.85 and a 52-week high of $106.77. The company has a market capitalization of $18.83 billion, a PE ratio of -22.51, a PEG ratio of 3.31 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 1.39. The firm's 50-day moving average is $76.21 and its 200-day moving average is $79.42.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.08. International Flavors & Fragrances had a negative net margin of 7.31% and a positive return on equity of 7.99%. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the prior year, the company posted $1.13 EPS. The business's revenue for the quarter was down 1.9% on a year-over-year basis. Equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. International Flavors & Fragrances's dividend payout ratio (DPR) is -48.93%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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 report on Thursday, May 8th. Mizuho reduced their target price 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. Stifel Nicolaus reduced their target price on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Oppenheimer cut their price objective on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Citigroup upped their price objective on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.43.

Insiders Place Their Bets

In related news, CAO Beril Yildiz sold 2,400 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $77.33, for a total transaction of $185,592.00. Following the completion of the transaction, the chief accounting officer owned 3,321 shares of the company's stock, valued at approximately $256,812.93. This trade represents a 41.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephen N. Landsman acquired 12,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were bought at an average cost of $77.28 per share, with a total value of $927,360.00. Following the transaction, the executive vice president directly owned 12,000 shares in the company, valued at $927,360. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 22,050 shares of company stock worth $1,688,512. 0.17% of the stock is currently owned by company insiders.

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.