NuWave Investment Management LLC Increases Stake in International Flavors & Fragrances Inc (NYSE:IFF)

NuWave Investment Management LLC raised its position in International Flavors & Fragrances Inc (NYSE:IFF) by 50.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,298 shares of the specialty chemicals company’s stock after purchasing an additional 436 shares during the period. NuWave Investment Management LLC’s holdings in International Flavors & Fragrances were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IFF. Winder Investment Pte Ltd raised its holdings in shares of International Flavors & Fragrances by 17.0% during the 1st quarter. Winder Investment Pte Ltd now owns 24,130,000 shares of the specialty chemicals company’s stock worth $2,463,190,000 after acquiring an additional 3,504,867 shares during the period. EdgePoint Investment Group Inc. purchased a new stake in International Flavors & Fragrances in the 1st quarter valued at about $215,989,000. Alliancebernstein L.P. raised its holdings in International Flavors & Fragrances by 52.4% in the 4th quarter. Alliancebernstein L.P. now owns 5,657,773 shares of the specialty chemicals company’s stock valued at $729,966,000 after buying an additional 1,945,079 shares during the period. BlackRock Inc. grew its position in International Flavors & Fragrances by 22.0% in the 1st quarter. BlackRock Inc. now owns 8,841,657 shares of the specialty chemicals company’s stock valued at $902,556,000 after acquiring an additional 1,595,504 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in International Flavors & Fragrances by 64.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,337,409 shares of the specialty chemicals company’s stock valued at $172,552,000 after acquiring an additional 521,736 shares in the last quarter. Institutional investors own 95.69% of the company’s stock.

IFF stock opened at $124.52 on Tuesday. The business has a 50 day moving average price of $128.34 and a 200 day moving average price of $125.78. The stock has a market cap of $13.38 billion, a price-to-earnings ratio of 29.79 and a beta of 1.05. International Flavors & Fragrances Inc has a fifty-two week low of $92.14 and a fifty-two week high of $147.20. The company has a quick ratio of 1.22, a current ratio of 1.98 and a debt-to-equity ratio of 0.68.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Monday, May 11th. The specialty chemicals company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.03. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. International Flavors & Fragrances had a return on equity of 11.03% and a net margin of 9.09%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 earnings per share. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc will post 5.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Thursday, June 25th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, June 24th. International Flavors & Fragrances’s payout ratio is 48.62%.

Several equities analysts have weighed in on the company. BNP Paribas downgraded International Flavors & Fragrances from a “neutral” rating to an “underperform” rating and set a $111.00 target price for the company. in a research report on Monday, June 22nd. Citigroup lifted their target price on International Flavors & Fragrances from $113.00 to $133.40 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Stephens assumed coverage on International Flavors & Fragrances in a research report on Thursday, July 9th. They issued an “overweight” rating and a $150.00 target price for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of International Flavors & Fragrances in a research report on Wednesday, June 3rd. Finally, Cfra lifted their target price on International Flavors & Fragrances from $143.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $136.49.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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