Allstate Corp Purchases Shares of 9,608 International Flavors & Fragrances Inc. $IFF

Allstate Corp acquired a new position in International Flavors & Fragrances Inc. (NYSE:IFF) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,608 shares of the specialty chemicals company’s stock, valued at approximately $591,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IFF. First Eagle Investment Management LLC boosted its stake in International Flavors & Fragrances by 122.1% in the second quarter. First Eagle Investment Management LLC now owns 5,441,094 shares of the specialty chemicals company’s stock valued at $400,192,000 after acquiring an additional 2,991,405 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in shares of International Flavors & Fragrances in the 2nd quarter worth $212,090,000. Ameriprise Financial Inc. boosted its position in shares of International Flavors & Fragrances by 1,842.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company’s stock worth $183,264,000 after purchasing an additional 2,363,307 shares in the last quarter. Norges Bank purchased a new position in International Flavors & Fragrances during the 2nd quarter worth $152,736,000. Finally, Dodge & Cox increased its position in International Flavors & Fragrances by 3.8% during the 2nd quarter. Dodge & Cox now owns 35,047,387 shares of the specialty chemicals company’s stock valued at $2,577,735,000 after buying an additional 1,272,780 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Up 1.2%

International Flavors & Fragrances stock opened at $72.19 on Friday. The business’s 50-day moving average price is $67.49 and its 200 day moving average price is $66.86. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $18.49 billion, a price-to-earnings ratio of -44.56, a price-to-earnings-growth ratio of 2.67 and a beta of 1.04. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $88.09.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.65 billion. International Flavors & Fragrances had a positive return on equity of 8.03% and a negative net margin of 3.72%.International Flavors & Fragrances’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, December 19th. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -98.77%.

Wall Street Analyst Weigh In

IFF has been the subject of several recent analyst reports. Argus raised their price target on International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of International Flavors & Fragrances in a research note on Monday, December 29th. Mizuho cut their price target on shares of International Flavors & Fragrances from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Citigroup lifted their price objective on shares of International Flavors & Fragrances from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Bank of America boosted their price objective on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.46.

International Flavors & Fragrances Company 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.