HB Wealth Management LLC Boosts Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

HB Wealth Management LLC grew its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 16.7% during the second quarter, Holdings Channel reports. The institutional investor owned 4,122 shares of the specialty chemicals company’s stock after acquiring an additional 591 shares during the quarter. HB Wealth Management LLC’s holdings in International Flavors & Fragrances were worth $393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IFF. Norges Bank acquired a new position in shares of International Flavors & Fragrances during the fourth quarter valued at about $79,812,000. Nomura Holdings Inc. increased its stake in International Flavors & Fragrances by 139.3% during the 4th quarter. Nomura Holdings Inc. now owns 1,372,685 shares of the specialty chemicals company’s stock valued at $111,146,000 after purchasing an additional 798,946 shares in the last quarter. Ilex Capital Partners UK LLP lifted its stake in shares of International Flavors & Fragrances by 344.5% during the first quarter. Ilex Capital Partners UK LLP now owns 847,504 shares of the specialty chemicals company’s stock worth $72,877,000 after buying an additional 656,820 shares during the period. Clearfield Capital Management LP purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at $28,771,000. Finally, Van ECK Associates Corp increased its position in shares of International Flavors & Fragrances by 7.8% in the 1st quarter. Van ECK Associates Corp now owns 4,778,678 shares of the specialty chemicals company’s stock valued at $410,919,000 after acquiring an additional 344,377 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Transactions at International Flavors & Fragrances

In related news, insider Angela Strzelecki sold 2,588 shares of International Flavors & Fragrances stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total value of $247,568.08. Following the completion of the transaction, the insider now directly owns 8,539 shares in the company, valued at $816,840.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $102.93 on Friday. International Flavors & Fragrances Inc. has a one year low of $62.28 and a one year high of $103.39. The firm’s 50 day moving average price is $97.45 and its 200-day moving average price is $90.83. The firm has a market cap of $26.28 billion, a P/E ratio of -10.54, a P/E/G ratio of 1.95 and a beta of 1.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.68.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that International Flavors & Fragrances Inc. will post 3.98 EPS for the current year.

International Flavors & Fragrances Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IFF. JPMorgan Chase & Co. increased their price objective on International Flavors & Fragrances from $100.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Stifel Nicolaus raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $115.00 in a research report on Monday, July 22nd. Bank of America increased their price objective on shares of International Flavors & Fragrances from $87.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. Robert W. Baird boosted their target price on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, Oppenheimer started coverage on International Flavors & Fragrances in a research report on Friday, June 7th. They set an “outperform” rating and a $116.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.80.

International Flavors & Fragrances Company 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 the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.