Park Avenue Securities LLC Acquires 1,315 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Park Avenue Securities LLC raised its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 25.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,433 shares of the specialty chemicals company’s stock after buying an additional 1,315 shares during the period. Park Avenue Securities LLC’s holdings in International Flavors & Fragrances were worth $499,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at approximately $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 valued at $11,712,000 after acquiring an additional 103,810 shares in the last quarter. Royal Bank of Canada grew its position in 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 valued at $30,529,000 after purchasing an additional 68,970 shares in the last quarter. Victory Capital Management Inc. increased 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 valued at $9,843,000 after acquiring an additional 3,400 shares during the last quarter. Finally, DnB Asset Management AS raised its stake in shares of International Flavors & Fragrances by 72.2% during the 4th quarter. DnB Asset Management AS now owns 635,598 shares of the specialty chemicals company’s stock worth $53,740,000 after purchasing an additional 266,392 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IFF has been the topic of several recent analyst reports. Tigress Financial started coverage on shares of International Flavors & Fragrances in a research note on Wednesday, June 4th. They set a “buy” rating and a $105.00 price objective on the stock. Robert W. Baird lowered their price target on International Flavors & Fragrances from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their price objective on International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley reduced their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Finally, Bank of America dropped 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. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.43.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $76.05 on Friday. International Flavors & Fragrances Inc. has a one year low of $65.85 and a one year high of $106.77. The stock’s fifty day moving average price is $75.68 and its two-hundred day moving average price is $80.62. 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 firm has a market cap of $19.45 billion, a PE ratio of 80.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.08. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 EPS. As a group, research analysts expect 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, July 11th. Investors of record on Friday, June 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. International Flavors & Fragrances’s dividend payout ratio is -48.93%.

Insider Buying and Selling at International Flavors & Fragrances

In related news, EVP Stephen N. Landsman purchased 12,000 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was purchased 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 now owns 12,000 shares in the company, valued at approximately $927,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin O’byrne acquired 4,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $76.05 per share, with a total value of $342,225.00. Following the acquisition, the director now owns 7,696 shares of the company’s stock, valued at approximately $585,280.80. This represents a 140.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 22,050 shares of company stock worth $1,688,512. 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.