International Flavors & Fragrances Inc. $IFF Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 24.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,886 shares of the specialty chemicals company’s stock after buying an additional 9,486 shares during the period. DAVENPORT & Co LLC’s holdings in International Flavors & Fragrances were worth $2,925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of IFF. IFM Investors Pty Ltd lifted its position in shares of International Flavors & Fragrances by 3.8% in the third quarter. IFM Investors Pty Ltd now owns 56,298 shares of the specialty chemicals company’s stock worth $3,418,000 after purchasing an additional 2,084 shares in the last quarter. OFI Invest Asset Management boosted its position in shares of International Flavors & Fragrances by 92.3% in the third quarter. OFI Invest Asset Management now owns 407,989 shares of the specialty chemicals company’s stock valued at $25,108,000 after acquiring an additional 195,786 shares during the period. Exchange Traded Concepts LLC grew its position in International Flavors & Fragrances by 189.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 47,318 shares of the specialty chemicals company’s stock worth $2,912,000 after purchasing an additional 30,980 shares during the last quarter. Brighton Jones LLC bought a new position in International Flavors & Fragrances during the third quarter valued at about $387,000. Finally, Hedges Asset Management LLC lifted its position in shares of International Flavors & Fragrances by 58.9% in the 3rd quarter. Hedges Asset Management LLC now owns 17,800 shares of the specialty chemicals company’s stock worth $1,095,000 after acquiring an additional 6,600 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup cut their target price on International Flavors & Fragrances from $82.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Mizuho cut their price target on shares of International Flavors & Fragrances from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of International Flavors & Fragrances in a report on Monday. BNP Paribas cut their target price on shares of International Flavors & Fragrances from $92.00 to $91.00 in a research note on Monday, September 29th. Finally, Barclays increased their price target on International Flavors & Fragrances from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.02.

International Flavors & Fragrances Stock Performance

IFF stock opened at $67.49 on Friday. The company has a 50 day moving average price of $65.54 and a 200 day moving average price of $67.70. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $88.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.87. The stock has a market capitalization of $17.28 billion, a PE ratio of -41.66, a price-to-earnings-growth ratio of 2.72 and a beta of 1.03.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.02 by $0.03. International Flavors & Fragrances had a positive return on equity of 8.03% and a negative net margin of 3.72%.The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the firm earned $1.04 EPS. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. Analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, December 19th. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. International Flavors & Fragrances’s dividend payout ratio is presently -98.77%.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.