Assenagon Asset Management S.A. Grows Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Assenagon Asset Management S.A. grew its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 853.7% during the third quarter, Holdings Channel reports. The institutional investor owned 100,200 shares of the specialty chemicals company’s stock after purchasing an additional 89,694 shares during the quarter. Assenagon Asset Management S.A.’s holdings in International Flavors & Fragrances were worth $10,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in IFF. BNP Paribas Financial Markets increased its stake in shares of International Flavors & Fragrances by 23.6% in the first quarter. BNP Paribas Financial Markets now owns 263,720 shares of the specialty chemicals company’s stock worth $22,677,000 after purchasing an additional 50,405 shares in the last quarter. Norden Group LLC raised its holdings in International Flavors & Fragrances by 313.1% during the 1st quarter. Norden Group LLC now owns 10,678 shares of the specialty chemicals company’s stock valued at $919,000 after acquiring an additional 8,093 shares during the period. Sei Investments Co. lifted its position in shares of International Flavors & Fragrances by 55.4% during the first quarter. Sei Investments Co. now owns 101,015 shares of the specialty chemicals company’s stock worth $8,686,000 after acquiring an additional 36,026 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of International Flavors & Fragrances by 8.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 650,879 shares of the specialty chemicals company’s stock valued at $55,969,000 after purchasing an additional 49,614 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of International Flavors & Fragrances during the 1st quarter valued at $1,115,000. Institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on IFF shares. Barclays raised their target price on International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Stifel Nicolaus upped their target price on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley raised their price target on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a report on Wednesday, July 3rd. Citigroup upped their price target on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, UBS Group dropped their price objective on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and an average target price of $107.86.

International Flavors & Fragrances Price Performance

IFF opened at $101.45 on Monday. The stock’s 50 day moving average price is $102.89 and its 200-day moving average price is $97.36. International Flavors & Fragrances Inc. has a 52-week low of $63.21 and a 52-week high of $106.77. The stock has a market capitalization of $25.94 billion, a PE ratio of -11.00, a price-to-earnings-growth ratio of 1.86 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.16 EPS for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. On average, equities research analysts predict that International Flavors & Fragrances Inc. will post 4.23 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Friday, September 20th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio is presently -17.35%.

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.