International Flavors & Fragrances Inc. (NYSE:IFF) Shares Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. boosted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,264 shares of the specialty chemicals company’s stock after buying an additional 306 shares during the quarter. Salem Investment Counselors Inc.’s holdings in International Flavors & Fragrances were worth $411,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IFF. Empowered Funds LLC grew its position in International Flavors & Fragrances by 47.6% during the 4th quarter. Empowered Funds LLC now owns 6,096 shares of the specialty chemicals company’s stock worth $515,000 after purchasing an additional 1,966 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in International Flavors & Fragrances by 33.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 6,601 shares of the specialty chemicals company’s stock worth $558,000 after purchasing an additional 1,640 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in International Flavors & Fragrances by 99.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 75,775 shares of the specialty chemicals company’s stock worth $6,296,000 after purchasing an additional 37,865 shares in the last quarter. Asset Management One Co. Ltd. grew its position in International Flavors & Fragrances by 27.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 123,631 shares of the specialty chemicals company’s stock worth $10,458,000 after purchasing an additional 26,357 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its position in International Flavors & Fragrances by 11.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 114,179 shares of the specialty chemicals company’s stock worth $9,654,000 after purchasing an additional 11,406 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 3.0%

Shares of IFF opened at $76.05 on Friday. The company has a 50-day simple moving average of $75.68 and a 200-day simple moving average of $80.69. The firm has a market capitalization of $19.45 billion, a P/E ratio of 80.90, a P/E/G ratio of 1.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84. International Flavors & Fragrances Inc. has a 52 week low of $65.85 and a 52 week high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.08. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. On average, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. International Flavors & Fragrances’s payout ratio is currently -48.93%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IFF. JPMorgan Chase & Co. lowered their price objective on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Morgan Stanley lowered their price objective on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. UBS Group boosted their price target on shares of International Flavors & Fragrances from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Bank of America lowered their price target on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Barclays raised shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $76.00 to $84.00 in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, International Flavors & Fragrances has an average rating of “Moderate Buy” and an average price target of $93.43.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, EVP Stephen N. Landsman bought 12,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were acquired at an average price of $77.28 per share, with a total value of $927,360.00. Following the completion of the purchase, the executive vice president now directly owns 12,000 shares in the company, valued at $927,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kevin O’byrne bought 4,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $76.05 per share, for a total transaction of $342,225.00. Following the purchase, the director now owns 7,696 shares of the company’s stock, valued at $585,280.80. This trade represents a 140.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 22,050 shares of company stock valued at $1,688,512 over the last quarter. 0.20% of the stock is owned by company insiders.

International Flavors & Fragrances Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.