130,279 Shares in International Flavors & Fragrances Inc. (NYSE:IFF) Acquired by Centre Asset Management LLC

Centre Asset Management LLC purchased a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 130,279 shares of the specialty chemicals company’s stock, valued at approximately $11,203,000. International Flavors & Fragrances accounts for about 2.7% of Centre Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Centre Asset Management LLC owned 0.05% of International Flavors & Fragrances as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of IFF. HighTower Advisors LLC boosted its position in shares of International Flavors & Fragrances by 97.0% in the 3rd quarter. HighTower Advisors LLC now owns 23,677 shares of the specialty chemicals company’s stock valued at $1,607,000 after purchasing an additional 11,656 shares during the period. Deutsche Bank AG increased its position in International Flavors & Fragrances by 2.8% in the 3rd quarter. Deutsche Bank AG now owns 650,541 shares of the specialty chemicals company’s stock worth $44,347,000 after purchasing an additional 17,715 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of International Flavors & Fragrances by 17.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 36,900 shares of the specialty chemicals company’s stock valued at $2,515,000 after buying an additional 5,361 shares during the last quarter. Johnson Investment Counsel Inc. increased its holdings in International Flavors & Fragrances by 15.9% in the third quarter. Johnson Investment Counsel Inc. now owns 4,355 shares of the specialty chemicals company’s stock worth $297,000 after buying an additional 598 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of International Flavors & Fragrances during the 3rd quarter worth about $231,000. Institutional investors own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IFF shares. Oppenheimer started coverage on International Flavors & Fragrances in a report on Friday, June 7th. They set an “outperform” rating and a $116.00 price target for the company. Citigroup increased their price target on shares of International Flavors & Fragrances from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. raised shares of International Flavors & Fragrances from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $75.00 to $100.00 in a research report on Wednesday, May 8th. Mizuho lifted their target price on International Flavors & Fragrances from $91.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus raised their price objective on International Flavors & Fragrances from $87.00 to $95.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.61.

International Flavors & Fragrances Trading Up 1.4 %

NYSE:IFF traded up $1.34 during mid-day trading on Tuesday, hitting $96.14. 1,683,413 shares of the company’s stock were exchanged, compared to its average volume of 1,985,545. International Flavors & Fragrances Inc. has a fifty-two week low of $62.11 and a fifty-two week high of $99.91. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $24.55 billion, a P/E ratio of -9.85, a PEG ratio of 1.92 and a beta of 1.26. The company has a 50 day simple moving average of $91.92 and a 200-day simple moving average of $84.42.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.78 billion. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. International Flavors & Fragrances’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 3.86 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s dividend payout ratio is presently -16.38%.

Insider Transactions at International Flavors & Fragrances

In related news, insider Angela Strzelecki sold 2,588 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total transaction of $247,568.08. Following the transaction, the insider now directly owns 8,539 shares of the company’s stock, valued at approximately $816,840.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

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.