Capital Investment Advisory Services LLC Makes New Investment in International Flavors & Fragrances Inc. (NYSE:IFF)

Posted by Defense World Staff on Apr 24th, 2023

Capital Investment Advisory Services LLC bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF – Get Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,043 shares of the specialty chemicals company’s stock, valued at approximately $214,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in International Flavors & Fragrances by 48.8% in the 1st quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 80 shares during the period. Riverview Trust Co lifted its stake in shares of International Flavors & Fragrances by 64.1% in the 3rd quarter. Riverview Trust Co now owns 274 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 107 shares during the period. Lindbrook Capital LLC increased its position in International Flavors & Fragrances by 147.5% during the 4th quarter. Lindbrook Capital LLC now owns 292 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 174 shares in the last quarter. Asset Dedication LLC bought a new position in International Flavors & Fragrances during the 3rd quarter valued at approximately $25,000. Finally, CI Investments Inc. increased its position in International Flavors & Fragrances by 1,003.2% during the 3rd quarter. CI Investments Inc. now owns 342 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 311 shares in the last quarter. 88.86% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $96.38 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.15 and a debt-to-equity ratio of 0.59. International Flavors & Fragrances Inc. has a 12 month low of $81.53 and a 12 month high of $135.17. The business’s 50-day moving average is $91.01 and its 200 day moving average is $98.59.

International Flavors & Fragrances (NYSE:IFF – Get Rating) last posted its earnings results on Wednesday, February 8th. The specialty chemicals company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.89 billion. International Flavors & Fragrances had a positive return on equity of 7.46% and a negative net margin of 14.81%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 earnings per share. On average, research analysts expect that International Flavors & Fragrances Inc. will post 4.85 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 6th. Shareholders of record on Friday, March 24th were paid a dividend of $0.81 per share. The ex-dividend date was Thursday, March 23rd. This represents a $3.24 annualized dividend and a yield of 3.36%. International Flavors & Fragrances’s payout ratio is currently -44.88%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on International Flavors & Fragrances from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, February 10th. StockNews.com initiated coverage on International Flavors & Fragrances in a report on Thursday, March 16th. They issued a “sell” rating for the company. Morgan Stanley cut their price objective on International Flavors & Fragrances from $136.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 5th. The Goldman Sachs Group lifted their price objective on International Flavors & Fragrances from $139.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Finally, Mizuho cut their price objective on International Flavors & Fragrances from $119.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, February 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Hold” and an average price target of $114.73.

International Flavors & Fragrances Profile

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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.