GM Advisory Group LLC Buys New Position in International Flavors & Fragrances Inc. (NYSE:IFF)

GM Advisory Group LLC bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,200 shares of the specialty chemicals company’s stock, valued at approximately $686,000.

Several other hedge funds also recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its position in shares of International Flavors & Fragrances by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 27,696 shares of the specialty chemicals company’s stock valued at $2,381,000 after buying an additional 130 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in International Flavors & Fragrances by 18.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 863 shares of the specialty chemicals company’s stock worth $82,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC boosted its position in International Flavors & Fragrances by 3.9% in the fourth quarter. Parallel Advisors LLC now owns 3,679 shares of the specialty chemicals company’s stock worth $298,000 after purchasing an additional 138 shares during the last quarter. Pflug Koory LLC boosted its position in International Flavors & Fragrances by 2.4% in the first quarter. Pflug Koory LLC now owns 6,522 shares of the specialty chemicals company’s stock worth $561,000 after purchasing an additional 152 shares during the last quarter. Finally, Orca Investment Management LLC boosted its position in International Flavors & Fragrances by 0.8% in the second quarter. Orca Investment Management LLC now owns 21,144 shares of the specialty chemicals company’s stock worth $2,013,000 after purchasing an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IFF shares. JPMorgan Chase & Co. boosted their price objective on International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Citigroup boosted their price objective on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company boosted their price objective on International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Oppenheimer boosted their price objective on International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, UBS Group lowered their target price on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $103.87.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $103.31 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38. International Flavors & Fragrances Inc. has a 52-week low of $62.28 and a 52-week high of $105.30. The firm has a market cap of $26.38 billion, a price-to-earnings ratio of -10.57, a PEG ratio of 1.85 and a beta of 1.22. The business’s fifty day moving average is $99.61 and its 200 day moving average is $93.35.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. Research analysts predict that International Flavors & Fragrances Inc. will post 4.23 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.55%. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

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.