Norges Bank Acquires New Stake in International Flavors & Fragrances Inc. $IFF

Norges Bank acquired a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,681,024 shares of the specialty chemicals company’s stock, valued at approximately $113,284,000.

A number of other large investors have also made changes to their positions in the stock. Tran Capital Management L.P. acquired a new stake in International Flavors & Fragrances in the 4th quarter worth about $21,924,000. JPMorgan Chase & Co. boosted its stake in International Flavors & Fragrances by 28.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,098,575 shares of the specialty chemicals company’s stock worth $67,612,000 after buying an additional 245,719 shares during the last quarter. Icahn Carl C boosted its stake in International Flavors & Fragrances by 26.7% in the 3rd quarter. Icahn Carl C now owns 4,750,000 shares of the specialty chemicals company’s stock worth $292,315,000 after buying an additional 1,000,000 shares during the last quarter. Dodge & Cox boosted its stake in International Flavors & Fragrances by 5.5% in the 3rd quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company’s stock worth $2,275,296,000 after buying an additional 1,925,251 shares during the last quarter. Finally, Swiss Life Asset Management Ltd boosted its stake in International Flavors & Fragrances by 117.0% in the 4th quarter. Swiss Life Asset Management Ltd now owns 148,377 shares of the specialty chemicals company’s stock worth $9,999,000 after buying an additional 80,014 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Price Performance

IFF stock opened at $73.26 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $84.45. The stock’s 50 day moving average is $73.67 and its two-hundred day moving average is $71.98. The company has a market capitalization of $18.70 billion, a PE ratio of 22.40, a P/E/G ratio of 2.09 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the business earned $1.20 EPS. International Flavors & Fragrances’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts predict that International Flavors & Fragrances Inc. will post 4.57 earnings per share 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 10th. Shareholders of record on Thursday, June 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, June 18th. This represents a $1.60 annualized dividend and a yield of 2.2%. International Flavors & Fragrances’s payout ratio is currently 48.93%.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg acquired 260,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the acquisition, the director directly owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders purchased 415,500 shares of company stock worth $30,276,875. 1.07% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company raised their price target on International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Mizuho raised their price objective on International Flavors & Fragrances from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Jefferies Financial Group raised their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Rothschild & Co Redburn cut their price objective on International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Finally, BNP Paribas Exane raised their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and a consensus target price of $90.49.

About International Flavors & Fragrances

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.