Victory Capital Management Inc. Grows Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Victory Capital Management Inc. increased its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 13.9% during the second quarter, Holdings Channel reports. The institutional investor owned 82,109 shares of the specialty chemicals company’s stock after acquiring an additional 9,997 shares during the period. Victory Capital Management Inc.’s holdings in International Flavors & Fragrances were worth $7,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of IFF. Van ECK Associates Corp grew its stake in 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 last quarter. First Pacific Advisors LP increased its stake in shares of International Flavors & Fragrances by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 4,011,307 shares of the specialty chemicals company’s stock worth $381,917,000 after purchasing an additional 80,558 shares in the last quarter. Capital International Investors lifted its stake in International Flavors & Fragrances by 1.4% in the 4th quarter. Capital International Investors now owns 2,375,699 shares of the specialty chemicals company’s stock valued at $192,360,000 after buying an additional 33,548 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in International Flavors & Fragrances by 9.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,895,581 shares of the specialty chemicals company’s stock worth $163,003,000 after buying an additional 162,179 shares in the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of International Flavors & Fragrances by 139.3% in the fourth quarter. Nomura Holdings Inc. now owns 1,372,685 shares of the specialty chemicals company’s stock worth $111,146,000 after acquiring an additional 798,946 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on IFF shares. Citigroup lifted their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Stifel Nicolaus raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $115.00 in a research note on Monday, July 22nd. Morgan Stanley increased their price target on International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 3rd. Finally, UBS Group reduced their target price on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Flavors & Fragrances presently has an average rating of “Hold” and an average price target of $103.87.

International Flavors & Fragrances Price Performance

IFF opened at $103.59 on Monday. The company has a 50 day moving average of $99.19 and a two-hundred day moving average of $92.88. International Flavors & Fragrances Inc. has a 52-week low of $62.28 and a 52-week high of $105.30. The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. The company has a market cap of $26.45 billion, a P/E ratio of -10.60, a P/E/G ratio of 1.85 and a beta of 1.22.

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

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio 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.