Meiji Yasuda Asset Management Co Ltd. Boosts Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 17.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,399 shares of the specialty chemicals company’s stock after buying an additional 660 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Flavors & Fragrances were worth $419,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Principal Securities Inc. bought a new position in International Flavors & Fragrances in the 4th quarter valued at $43,000. Norges Bank bought a new position in shares of International Flavors & Fragrances in the fourth quarter worth about $79,812,000. Dynamic Technology Lab Private Ltd purchased a new position in International Flavors & Fragrances in the 4th quarter worth about $228,000. Coldstream Capital Management Inc. lifted its holdings in International Flavors & Fragrances by 23.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,832 shares of the specialty chemicals company’s stock valued at $310,000 after buying an additional 730 shares in the last quarter. Finally, Assetmark Inc. grew its stake in International Flavors & Fragrances by 2.9% in the 4th quarter. Assetmark Inc. now owns 10,866 shares of the specialty chemicals company’s stock worth $880,000 after acquiring an additional 310 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

IFF has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Wells Fargo & Company upped their target price on International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Citigroup increased their price target 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. Morgan Stanley lifted their price objective on International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a report on Wednesday, July 3rd. Finally, UBS Group dropped their target price on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, International Flavors & Fragrances currently has an average rating of “Hold” and an average target price of $103.87.

International Flavors & Fragrances Price Performance

Shares of IFF opened at $102.23 on Friday. The company has a 50 day moving average of $99.73 and a two-hundred day moving average of $93.42. The company has a market cap of $26.10 billion, a price-to-earnings ratio of -10.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. International Flavors & Fragrances Inc. has a twelve month low of $62.28 and a twelve month high of $105.30.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts predict that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -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.