International Flavors & Fragrances Inc. (NYSE:IFF) Stake Increased by Royal Bank of Canada

Royal Bank of Canada lifted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 361,073 shares of the specialty chemicals company's stock after acquiring an additional 68,970 shares during the period. Royal Bank of Canada owned approximately 0.14% of International Flavors & Fragrances worth $30,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IFF. UMB Bank n.a. grew its holdings in International Flavors & Fragrances by 8.9% in the fourth quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 119 shares during the period. Truist Financial Corp increased its stake in shares of International Flavors & Fragrances by 0.7% in the fourth quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company's stock worth $1,683,000 after purchasing an additional 129 shares in the last quarter. Wahed Invest LLC grew its stake in International Flavors & Fragrances by 2.1% during the fourth quarter. Wahed Invest LLC now owns 6,339 shares of the specialty chemicals company's stock valued at $536,000 after acquiring an additional 130 shares in the last quarter. United Community Bank grew its stake in International Flavors & Fragrances by 19.4% during the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock valued at $78,000 after acquiring an additional 150 shares in the last quarter. Finally, Commerce Bank lifted its position in International Flavors & Fragrances by 3.8% during 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 last quarter. Institutional investors own 96.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IFF. Oppenheimer lowered their price target 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. Stifel Nicolaus reduced their target price on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. reduced their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Bank of America cut their price objective on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, Cfra downgraded shares of International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price objective on the stock. in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $92.54.

Insider Activity

In other International Flavors & Fragrances news, Director Kevin O'byrne acquired 6,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $80.44 per share, with a total value of $522,860.00. Following the purchase, the director now owns 6,500 shares in the company, valued at approximately $522,860. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Stephen N. Landsman purchased 12,000 shares of the firm's stock in a transaction on Monday, May 19th. The shares were purchased at an average cost of $77.28 per share, for a total transaction of $927,360.00. Following the completion of the purchase, the executive vice president now directly owns 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. Insiders purchased 28,550 shares of company stock worth $2,211,372 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Stock Up 3.0%

Shares of International Flavors & Fragrances stock traded up $2.24 on Tuesday, reaching $77.24. 1,639,867 shares of the company were exchanged, compared to its average volume of 1,526,104. International Flavors & Fragrances Inc. has a 1-year low of $65.85 and a 1-year high of $106.77. The company has a market cap of $19.76 billion, a P/E ratio of 82.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. 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 moving average price is $75.41 and its 200-day moving average price is $81.78.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.08. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. International Flavors & Fragrances's dividend payout ratio is presently -48.93%.

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.