Park Avenue Securities LLC Raises Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Park Avenue Securities LLC grew its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 6.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,782 shares of the specialty chemicals company’s stock after purchasing an additional 428 shares during the quarter. Park Avenue Securities LLC’s holdings in International Flavors & Fragrances were worth $583,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in shares of International Flavors & Fragrances in the 3rd quarter worth $231,000. FMR LLC raised its position in shares of International Flavors & Fragrances by 13.5% in the 3rd quarter. FMR LLC now owns 363,492 shares of the specialty chemicals company’s stock worth $24,779,000 after buying an additional 43,348 shares during the period. LPL Financial LLC raised its position in shares of International Flavors & Fragrances by 24.2% in the 3rd quarter. LPL Financial LLC now owns 137,415 shares of the specialty chemicals company’s stock worth $9,368,000 after buying an additional 26,785 shares during the period. Federated Hermes Inc. raised its position in shares of International Flavors & Fragrances by 9.7% in the 3rd quarter. Federated Hermes Inc. now owns 1,712 shares of the specialty chemicals company’s stock worth $117,000 after buying an additional 152 shares during the period. Finally, Natixis Advisors L.P. raised its position in shares of International Flavors & Fragrances by 137.8% in the 3rd quarter. Natixis Advisors L.P. now owns 97,913 shares of the specialty chemicals company’s stock worth $6,675,000 after buying an additional 56,732 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Down 0.6 %

NYSE IFF opened at $95.18 on Friday. International Flavors & Fragrances Inc. has a 1-year low of $62.11 and a 1-year high of $99.91. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $24.30 billion, a PE ratio of -9.74, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26. The firm’s fifty day simple moving average is $94.05 and its 200-day simple moving average is $85.54.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the business posted $0.87 earnings per share. International Flavors & Fragrances’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 3.97 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s payout ratio is -16.38%.

Insiders Place Their Bets

In other International Flavors & Fragrances news, insider Angela Strzelecki sold 2,588 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $95.66, for a total transaction of $247,568.08. Following the transaction, the insider now directly owns 8,539 shares of the company’s stock, valued at $816,840.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on IFF. Citigroup raised their price objective on International Flavors & Fragrances from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. StockNews.com upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Wells Fargo & Company boosted their price objective on International Flavors & Fragrances from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 price target on shares of International Flavors & Fragrances in a research note on Tuesday, May 21st. Finally, Barclays boosted their price objective on International Flavors & Fragrances from $82.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Hold” and a consensus price target of $95.61.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.