Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Key Points

• Zurcher Kantonalbank increased its stake in International Flavors & Fragrances by 6.8%, holding approximately 317,181 shares valued at $24.6 million.
• During the most recent quarter, several institutional investors, including Dodge & Cox and Northern Trust Corp, significantly increased their positions in International Flavors & Fragrances.
• International Flavors & Fragrances reported $1.20 EPS for the quarter, beating expectations, despite a 1.9% year-over-year decline in revenue.

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 317,181 shares of the specialty chemicals company's stock after buying an additional 20,273 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of International Flavors & Fragrances worth $24,616,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wahed Invest LLC boosted its position in 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 valued at $536,000 after buying an additional 130 shares during the period. Commerce Bank boosted its position in International Flavors & Fragrances by 3.8% during the 4th quarter. Commerce Bank now owns 4,141 shares of the specialty chemicals company's stock valued at $350,000 after buying an additional 152 shares during the period. Byrne Asset Management LLC lifted its position in shares of International Flavors & Fragrances by 3.3% in the 1st quarter. Byrne Asset Management LLC now owns 6,637 shares of the specialty chemicals company's stock worth $515,000 after purchasing an additional 210 shares during the period. Huntington National Bank lifted its position in shares of International Flavors & Fragrances by 5.3% in the 4th quarter. Huntington National Bank now owns 4,314 shares of the specialty chemicals company's stock worth $365,000 after purchasing an additional 219 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of International Flavors & Fragrances by 6.6% in the 4th quarter. Bessemer Group Inc. now owns 3,515 shares of the specialty chemicals company's stock worth $297,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Stock Down 1.9%

NYSE IFF traded down $1.37 during mid-day trading on Friday, reaching $69.66. The stock had a trading volume of 730,898 shares, compared to its average volume of 1,715,905. International Flavors & Fragrances Inc. has a 1 year low of $65.85 and a 1 year high of $106.77. The stock has a market cap of $17.82 billion, a PE ratio of -21.33, a price-to-earnings-growth ratio of 3.18 and a beta of 1.04. The company has a fifty day moving average price of $75.67 and a 200 day moving average price of $78.10. 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 (NYSE:IFF - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the business earned $1.13 EPS. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's payout ratio is presently -48.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IFF shares. Citigroup raised their target price 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. Morgan Stanley dropped their target price on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. UBS Group raised their target price on shares of International Flavors & Fragrances from $82.00 to $83.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus lowered their price target on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. One equities research 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. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.43.

Insider Activity

In related news, Director Kevin O'byrne acquired 4,500 shares of the firm's stock in a transaction dated 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 completion of the acquisition, the director directly owned 7,696 shares of the company's stock, valued at approximately $585,280.80. This trade represents a 140.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mehmood Khan acquired 4,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were bought at an average cost of $75.33 per share, with a total value of $301,320.00. Following the completion of the acquisition, the director directly owned 4,604 shares of the company's stock, valued at $346,819.32. The trade was a 662.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 22,050 shares of company stock valued at $1,688,512 over the last three months. Corporate insiders own 0.20% of the company's stock.

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.