Citigroup Inc. Increases Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Citigroup Inc. raised its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 38.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 283,542 shares of the specialty chemicals company's stock after purchasing an additional 79,146 shares during the quarter. Citigroup Inc. owned 0.11% of International Flavors & Fragrances worth $22,006,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Wahed Invest LLC lifted its stake in shares of International Flavors & Fragrances by 2.1% during the 4th quarter. Wahed Invest LLC now owns 6,339 shares of the specialty chemicals company's stock worth $536,000 after purchasing an additional 130 shares during the last quarter. Commerce Bank increased its holdings in shares of International Flavors & Fragrances by 3.8% in the fourth quarter. Commerce Bank now owns 4,141 shares of the specialty chemicals company's stock valued at $350,000 after purchasing an additional 152 shares during the period. Byrne Asset Management LLC increased its holdings in shares of International Flavors & Fragrances by 3.3% in the first quarter. Byrne Asset Management LLC now owns 6,637 shares of the specialty chemicals company's stock valued at $515,000 after purchasing an additional 210 shares during the period. Bessemer Group Inc. increased its holdings in shares of International Flavors & Fragrances by 6.6% in the fourth quarter. Bessemer Group Inc. now owns 3,515 shares of the specialty chemicals company's stock valued at $297,000 after purchasing an additional 219 shares during the period. Finally, Channing Global Advisors LLC increased its holdings in shares of International Flavors & Fragrances by 0.5% in the first quarter. Channing Global Advisors LLC now owns 46,234 shares of the specialty chemicals company's stock valued at $3,588,000 after purchasing an additional 226 shares during the period. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Trading Up 0.1%

NYSE:IFF traded up $0.06 on Friday, reaching $65.78. The company's stock had a trading volume of 1,389,246 shares, compared to its average volume of 2,607,229. International Flavors & Fragrances Inc. has a 12-month low of $62.33 and a 12-month high of $106.77. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average price of $73.51 and a 200 day moving average price of $76.59. The firm has a market cap of $16.86 billion, a price-to-earnings ratio of -42.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.04. International Flavors & Fragrances had a positive return on equity of 7.95% and a negative net margin of 3.48%. The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. The company's revenue was down 4.3% on a year-over-year basis. On average, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio is currently -103.23%.

Analysts Set New Price Targets

Several research firms recently commented on IFF. Tigress Financial began coverage on International Flavors & Fragrances in a report on Wednesday, June 4th. They set a "buy" rating and a $105.00 target price on the stock. Wells Fargo & Company dropped their price objective on International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Morgan Stanley dropped their price objective on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Robert W. Baird dropped their price objective on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, Barclays decreased their target price on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $92.36.

Insider Buying and Selling at International Flavors & Fragrances

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 cost of $76.05 per share, with a total value of $342,225.00. Following the transaction, the director directly owned 7,696 shares in the company, valued at $585,280.80. This trade represents a 140.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephen N. Landsman acquired 12,000 shares of International Flavors & Fragrances stock in a transaction 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 completion of the purchase, the executive vice president owned 12,000 shares in the company, valued at $927,360. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 48,100 shares of company stock worth $3,330,287. Corporate insiders own 0.20% of the company's stock.

International Flavors & Fragrances 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.