BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 18,420 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 60.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,898 shares of the specialty chemicals company’s stock after acquiring an additional 18,420 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in International Flavors & Fragrances were worth $4,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of International Flavors & Fragrances during the 1st quarter valued at $27,000. Quent Capital LLC raised its stake in International Flavors & Fragrances by 183.2% in the first quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 240 shares during the last quarter. Family Firm Inc. acquired a new stake in International Flavors & Fragrances in the second quarter worth about $38,000. Fidelis Capital Partners LLC purchased a new stake in shares of International Flavors & Fragrances during the first quarter worth about $44,000. Finally, Larson Financial Group LLC increased its holdings in shares of International Flavors & Fragrances by 5,050.0% during the first quarter. Larson Financial Group LLC now owns 515 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 505 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock opened at $104.74 on Friday. The business has a 50-day moving average price of $100.39 and a 200 day moving average price of $94.33. International Flavors & Fragrances Inc. has a twelve month low of $62.28 and a twelve month 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 firm has a market cap of $26.78 billion, a PE ratio of -10.72, a P/E/G ratio of 1.85 and a beta of 1.22.

International Flavors & Fragrances (NYSE:IFF) last released its 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. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Citigroup boosted their target price on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. UBS Group cut 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. JPMorgan Chase & Co. lifted their price target on International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Stifel Nicolaus raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $115.00 in a report on Monday, July 22nd. Finally, Oppenheimer upped their target price on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Hold” and a consensus price target of $103.87.

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.