Simon Quick Advisors LLC Acquires New Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Simon Quick Advisors LLC purchased a new position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,652 shares of the specialty chemicals company's stock, valued at approximately $283,000.

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at about $8,099,000. Cibc World Markets Corp lifted its stake in International Flavors & Fragrances by 299.1% in the 4th quarter. Cibc World Markets Corp now owns 138,522 shares of the specialty chemicals company's stock worth $11,712,000 after purchasing an additional 103,810 shares in the last quarter. Royal Bank of Canada grew its position in shares of International Flavors & Fragrances by 23.6% during the 4th quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock valued at $30,529,000 after purchasing an additional 68,970 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of International Flavors & Fragrances by 3.0% in the fourth quarter. Victory Capital Management Inc. now owns 116,419 shares of the specialty chemicals company's stock worth $9,843,000 after buying an additional 3,400 shares in the last quarter. Finally, DnB Asset Management AS boosted its stake in International Flavors & Fragrances by 72.2% during the fourth quarter. DnB Asset Management AS now owns 635,598 shares of the specialty chemicals company's stock valued at $53,740,000 after buying an additional 266,392 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Trading Down 0.0%

IFF traded down $0.03 during midday trading on Wednesday, reaching $75.00. 811,957 shares of the company's stock traded hands, compared to its average volume of 1,705,985. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 1.39. International Flavors & Fragrances Inc. has a 52 week low of $65.85 and a 52 week high of $106.77. The stock has a market capitalization of $19.18 billion, a price-to-earnings ratio of -22.94, a P/E/G ratio of 3.41 and a beta of 1.05. The firm has a fifty day moving average of $75.92 and a two-hundred day moving average of $80.41.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the business posted $1.13 earnings per share. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 annualized dividend and a yield of 2.13%. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -48.93%.

Insider Buying and Selling at International Flavors & Fragrances

In other news, CAO Beril Yildiz sold 2,400 shares of International Flavors & Fragrances 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 now directly owns 3,321 shares in the company, valued at approximately $256,812.93. This trade represents a 41.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen N. Landsman purchased 12,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average price of $77.28 per share, for a total transaction of $927,360.00. Following 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. In the last three months, insiders have bought 22,050 shares of company stock valued at $1,688,512. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price 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. Tigress Financial started coverage on International Flavors & Fragrances in a research report on Wednesday, June 4th. They set a "buy" rating and a $105.00 price objective on the stock. Cfra downgraded International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 target price for the company. in a research report on Thursday, February 20th. Citigroup upped their target price on International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Barclays upgraded shares of International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $93.43.

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.