CenterBook Partners LP Invests $813,000 in International Flavors & Fragrances Inc. $IFF

CenterBook Partners LP purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,205 shares of the specialty chemicals company’s stock, valued at approximately $813,000.

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

International Flavors & Fragrances Stock Performance

Shares of NYSE IFF opened at $81.37 on Friday. The company has a 50-day simple moving average of $71.47 and a 200-day simple moving average of $67.07. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.42 and a quick ratio of 0.85. The company has a market cap of $20.84 billion, a PE ratio of -59.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.52 billion. International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.The firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. On average, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BNP Paribas Exane reduced their price objective on International Flavors & Fragrances from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Citigroup boosted their price objective on shares of International Flavors & Fragrances from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Wall Street Zen raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Sunday, January 4th. UBS Group lifted their target price on shares of International Flavors & Fragrances from $71.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, Barclays increased their price target on shares of International Flavors & Fragrances from $78.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and an average target price of $91.17.

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.