Allspring Global Investments Holdings LLC Acquires 37,865 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Allspring Global Investments Holdings LLC lifted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 99.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,775 shares of the specialty chemicals company’s stock after acquiring an additional 37,865 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Flavors & Fragrances were worth $6,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IFF. Exchange Traded Concepts LLC grew its stake in shares of International Flavors & Fragrances by 1,109.4% during the third quarter. Exchange Traded Concepts LLC now owns 774 shares of the specialty chemicals company’s stock worth $81,000 after purchasing an additional 710 shares during the period. Blue Trust Inc. grew its stake in International Flavors & Fragrances by 76.6% in the third quarter. Blue Trust Inc. now owns 3,329 shares of the specialty chemicals company’s stock valued at $349,000 after acquiring an additional 1,444 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of International Flavors & Fragrances during the third quarter worth about $27,000. Oakworth Capital Inc. acquired a new position in shares of International Flavors & Fragrances during the third quarter worth about $44,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of International Flavors & Fragrances during the third quarter worth about $226,000. Institutional investors own 96.02% of the company’s stock.

Analysts Set New Price Targets

IFF has been the topic of several analyst reports. Citigroup dropped their target price on International Flavors & Fragrances from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. UBS Group upped their price objective on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective on International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Oppenheimer lowered their target price on International Flavors & Fragrances from $117.00 to $114.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.77.

International Flavors & Fragrances Stock Performance

IFF stock opened at $81.99 on Thursday. The stock has a 50-day moving average price of $85.02 and a 200-day moving average price of $93.64. International Flavors & Fragrances Inc. has a 1-year low of $72.94 and a 1-year high of $106.77. The company has a current ratio of 2.62, a quick ratio of 1.93 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.96 billion, a PE ratio of -9.02, a price-to-earnings-growth ratio of 1.54 and a beta of 1.19.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.83 by $0.14. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.67 billion. International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. As a group, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.15 earnings per share for the current year.

International Flavors & Fragrances 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.