Arizona State Retirement System Boosts Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Arizona State Retirement System increased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 74,256 shares of the specialty chemicals company’s stock after acquiring an additional 1,099 shares during the quarter. Arizona State Retirement System’s holdings in International Flavors & Fragrances were worth $6,278,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC purchased a new position in International Flavors & Fragrances in the 4th quarter worth approximately $8,099,000. Assetmark Inc. increased its stake in International Flavors & Fragrances by 13.3% in the 4th quarter. Assetmark Inc. now owns 13,414 shares of the specialty chemicals company’s stock worth $1,134,000 after acquiring an additional 1,575 shares during the last quarter. Victory Capital Management Inc. increased its stake in International Flavors & Fragrances by 3.0% in the 4th quarter. Victory Capital Management Inc. now owns 116,419 shares of the specialty chemicals company’s stock worth $9,843,000 after acquiring an additional 3,400 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in International Flavors & Fragrances by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,545,718 shares of the specialty chemicals company’s stock worth $130,690,000 after acquiring an additional 46,903 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in International Flavors & Fragrances in the 4th quarter worth approximately $32,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Price Performance

Shares of IFF stock opened at $82.60 on Friday. International Flavors & Fragrances Inc. has a twelve month low of $78.54 and a twelve month high of $106.77. The stock has a market capitalization of $21.12 billion, a price-to-earnings ratio of 87.88, a P/E/G ratio of 1.45 and a beta of 1.21. The stock has a fifty day simple moving average of $83.84 and a two-hundred day simple moving average of $92.47. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.14. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, analysts predict that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, March 21st. International Flavors & Fragrances’s dividend payout ratio is 170.21%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley raised International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $111.00 to $110.00 in a research note on Tuesday, November 12th. Stifel Nicolaus cut their target price on International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on 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. Oppenheimer cut their target price on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Barclays cut their target price on International Flavors & Fragrances from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.50.

Insiders Place Their Bets

In related news, Director Kevin O’byrne acquired 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $80.44 per share, for a total transaction of $522,860.00. Following the purchase, the director now directly owns 6,500 shares of the company’s stock, valued at $522,860. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

About International Flavors & Fragrances

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.