GM Advisory Group LLC Makes New Investment in International Flavors & Fragrances Inc. (NYSE:IFF)

GM Advisory Group LLC acquired a new position in International Flavors & Fragrances Inc. (NYSE:IFF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,200 shares of the specialty chemicals company’s stock, valued at approximately $686,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bayesian Capital Management LP purchased a new position in shares of International Flavors & Fragrances in the 4th quarter worth about $9,316,000. Clearfield Capital Management LP purchased a new position in shares of International Flavors & Fragrances in the 4th quarter worth about $28,771,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Flavors & Fragrances by 19.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,733,402 shares of the specialty chemicals company’s stock worth $140,355,000 after purchasing an additional 280,069 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of International Flavors & Fragrances by 3.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 68,751 shares of the specialty chemicals company’s stock worth $5,567,000 after purchasing an additional 2,514 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of International Flavors & Fragrances by 77.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,629 shares of the specialty chemicals company’s stock worth $2,561,000 after purchasing an additional 13,786 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Down 0.1 %

Shares of NYSE:IFF opened at $103.31 on Friday. International Flavors & Fragrances Inc. has a 52-week low of $62.28 and a 52-week high of $105.30. The firm has a market capitalization of $26.38 billion, a P/E ratio of -10.57, a P/E/G ratio of 1.85 and a beta of 1.22. The stock has a 50 day moving average price of $99.61 and a 200-day moving average price of $93.35. 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 announced its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.23 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on IFF. Citigroup increased their target price on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. increased their target price on International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Oppenheimer increased their target price on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Stifel Nicolaus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $115.00 in a report on Monday, July 22nd. Finally, Wells Fargo & Company increased their target price on International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One 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, the stock currently has a consensus rating of “Hold” and an average target price of $103.87.

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