Avantax Advisory Services Inc. boosted its stake in International Flavors & Fragrances Inc. (NYSE:IFF – Free Report) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,503 shares of the specialty chemicals company’s stock after acquiring an additional 2,060 shares during the period. Avantax Advisory Services Inc.’s holdings in International Flavors & Fragrances were worth $1,518,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in IFF. Covestor Ltd raised its position in shares of International Flavors & Fragrances by 48.8% in the first quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 80 shares during the period. Clear Street Markets LLC bought a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC raised its position in shares of International Flavors & Fragrances by 147.5% in the fourth quarter. Lindbrook Capital LLC now owns 292 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Penserra Capital Management LLC bought a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at approximately $31,000. Finally, First Horizon Advisors Inc. raised its position in shares of International Flavors & Fragrances by 395.7% in the fourth quarter. First Horizon Advisors Inc. now owns 347 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 277 shares during the period. Institutional investors own 90.67% of the company’s stock.
International Flavors & Fragrances Price Performance
Shares of International Flavors & Fragrances stock opened at $84.00 on Friday. International Flavors & Fragrances Inc. has a 52-week low of $75.18 and a 52-week high of $129.20. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of -10.22, a price-to-earnings-growth ratio of 4.49 and a beta of 1.09. The company has a fifty day moving average of $79.85 and a 200-day moving average of $91.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.53.
International Flavors & Fragrances Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Investors of record on Friday, June 23rd were issued a dividend of $0.81 per share. The ex-dividend date was Thursday, June 22nd. This represents a $3.24 dividend on an annualized basis and a yield of 3.86%. International Flavors & Fragrances’s dividend payout ratio is currently -39.42%.
Insider Activity at International Flavors & Fragrances
In related news, insider De Villeplee Christoph Fauchon sold 1,972 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $86.35, for a total transaction of $170,282.20. Following the completion of the sale, the insider now directly owns 9,093 shares in the company, valued at approximately $785,180.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
IFF has been the topic of several research reports. Barclays lowered their price target on shares of International Flavors & Fragrances from $81.00 to $75.00 in a research report on Thursday, May 11th. Wells Fargo & Company reduced their price objective on shares of International Flavors & Fragrances from $110.00 to $93.00 and set an “overweight” rating for the company in a research note on Tuesday, July 18th. Citigroup initiated coverage on shares of International Flavors & Fragrances in a research note on Tuesday, June 13th. They set a “neutral” rating and a $84.00 price objective for the company. StockNews.com initiated coverage on shares of International Flavors & Fragrances in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, UBS Group reduced their price objective on shares of International Flavors & Fragrances from $128.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, International Flavors & Fragrances presently has an average rating of “Hold” and a consensus target price of $109.93.
International Flavors & Fragrances Profile
International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.
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