International Flavors & Fragrances Inc. $IFF Stock Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 10.8% in the third quarter, Holdings Channel reports. The firm owned 690,737 shares of the specialty chemicals company’s stock after purchasing an additional 67,588 shares during the quarter. Pictet Asset Management Holding SA’s holdings in International Flavors & Fragrances were worth $57,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Studio Investment Management LLC lifted its holdings in International Flavors & Fragrances by 3.7% during the 2nd quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock worth $312,000 after buying an additional 138 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of International Flavors & Fragrances by 27.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock valued at $56,000 after acquiring an additional 154 shares during the last quarter. Waverly Advisors LLC raised its position in shares of International Flavors & Fragrances by 4.2% during the 2nd quarter. Waverly Advisors LLC now owns 3,850 shares of the specialty chemicals company’s stock valued at $305,000 after acquiring an additional 156 shares in the last quarter. HB Wealth Management LLC raised its position in shares of International Flavors & Fragrances by 2.8% during the 2nd quarter. HB Wealth Management LLC now owns 6,272 shares of the specialty chemicals company’s stock valued at $497,000 after acquiring an additional 171 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of International Flavors & Fragrances by 2.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,473 shares of the specialty chemicals company’s stock valued at $798,000 after acquiring an additional 207 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Price Performance

Shares of IFF opened at $84.44 on Tuesday. International Flavors & Fragrances Inc. has a 12 month low of $61.72 and a 12 month high of $95.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.87 and a quick ratio of 1.72. The stock has a fifty day moving average price of $87.02 and a 200 day moving average price of $79.05. The company has a market cap of $21.14 billion, a P/E ratio of 118.93, a PEG ratio of 3.76 and a beta of 0.86.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. International Flavors & Fragrances had a net margin of 1.97% and a return on equity of 6.82%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts forecast that International Flavors & Fragrances Inc. will post 3.23 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Saturday, December 19th will be given a $0.40 dividend. The ex-dividend date is Friday, December 18th. This represents a $1.60 annualized dividend and a yield of 1.9%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 225.35%.

International Flavors & Fragrances declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 12.1% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IFF shares. Argus lifted their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. Barclays dropped their target price on shares of International Flavors & Fragrances from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Friday. KeyCorp assumed coverage on shares of International Flavors & Fragrances in a research report on Thursday, September 10th. They issued a “sector weight” rating on the stock. Oppenheimer lifted their price target on shares of International Flavors & Fragrances from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, Citigroup increased their price objective on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.05.

Insiders Place Their Bets

In other International Flavors & Fragrances news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.07% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE: IFF) develops ingredients and solutions used by manufacturers in food and beverages, fragrances, personal care, home care, health and wellness, and other consumer products. Its offerings include flavors, fragrance compounds, enzymes, cultures, probiotics, and specialty food ingredients.

The company works with customers to create and improve products, including by enhancing taste and scent, supporting product performance, and developing ingredients for nutrition and wellness applications.