Raymond James Financial Inc. Invests $9.96 Million in International Flavors & Fragrances Inc. (NYSE:IFF)

Raymond James Financial Inc. bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 117,819 shares of the specialty chemicals company’s stock, valued at approximately $9,962,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of International Flavors & Fragrances by 1.5% during the 4th quarter. Arizona State Retirement System now owns 74,256 shares of the specialty chemicals company’s stock worth $6,278,000 after acquiring an additional 1,099 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of International Flavors & Fragrances during the 4th quarter worth approximately $8,099,000. Assetmark Inc. boosted its stake in shares of International Flavors & Fragrances by 13.3% during the 4th quarter. Assetmark Inc. now owns 13,414 shares of the specialty chemicals company’s stock worth $1,134,000 after acquiring an additional 1,575 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of International Flavors & Fragrances by 3.0% during the 4th quarter. Victory Capital Management Inc. now owns 116,419 shares of the specialty chemicals company’s stock worth $9,843,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of International Flavors & Fragrances by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,545,718 shares of the specialty chemicals company’s stock worth $130,690,000 after acquiring an additional 46,903 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Insider Buying and Selling at International Flavors & Fragrances

In related news, Director Kevin O’byrne bought 6,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the purchase, the director now owns 6,500 shares in the company, valued at $522,860. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Trading Down 2.3 %

Shares of NYSE IFF opened at $77.93 on Friday. The company’s 50 day simple moving average is $83.23 and its 200 day simple moving average is $90.87. International Flavors & Fragrances Inc. has a fifty-two week low of $77.28 and a fifty-two week high of $106.77. The firm has a market capitalization of $19.93 billion, a P/E ratio of 82.90, a P/E/G ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.14. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. On average, analysts predict that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, March 21st. International Flavors & Fragrances’s dividend payout ratio is currently 170.21%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IFF shares. Cfra lowered International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 target price on the stock. in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their target price on International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Citigroup reduced their target price on International Flavors & Fragrances from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Argus raised International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Finally, Barclays cut their price target on International Flavors & Fragrances from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.