Rialto Wealth Management LLC Buys New Shares in International Flavors & Fragrances Inc. (NYSE:IFF)

Rialto Wealth Management LLC purchased a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the 4th quarter, Holdings Channel reports. The fund purchased 497 shares of the specialty chemicals company’s stock, valued at approximately $42,000.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of International Flavors & Fragrances by 1.9% in the 3rd quarter. State Street Corp now owns 10,467,517 shares of the specialty chemicals company’s stock valued at $1,102,363,000 after buying an additional 196,696 shares during the last quarter. Geode Capital Management LLC raised its position in International Flavors & Fragrances by 1.3% during the third quarter. Geode Capital Management LLC now owns 6,008,830 shares of the specialty chemicals company’s stock worth $628,341,000 after acquiring an additional 77,521 shares in the last quarter. Van ECK Associates Corp lifted its stake in International Flavors & Fragrances by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 5,664,250 shares of the specialty chemicals company’s stock valued at $478,912,000 after acquiring an additional 1,663,629 shares during the last quarter. Nordea Investment Management AB grew its position in shares of International Flavors & Fragrances by 25.7% in the 4th quarter. Nordea Investment Management AB now owns 5,489,741 shares of the specialty chemicals company’s stock valued at $464,926,000 after acquiring an additional 1,121,414 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of International Flavors & Fragrances by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,879,317 shares of the specialty chemicals company’s stock worth $158,896,000 after purchasing an additional 17,372 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Flavors & Fragrances

In other news, Director Kevin O’byrne purchased 6,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $80.44 per share, with a total value of $522,860.00. Following the acquisition, the director now owns 6,500 shares in the company, valued at approximately $522,860. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Performance

NYSE IFF opened at $82.60 on Monday. International Flavors & Fragrances Inc. has a 12-month low of $78.64 and a 12-month high of $106.77. The firm has a 50-day moving average price of $83.80 and a two-hundred day moving average price of $92.26. The company has a market capitalization of $21.12 billion, a P/E ratio of 87.88, a P/E/G ratio of 1.45 and a beta of 1.21. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.67 billion. Analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IFF. JPMorgan Chase & Co. cut their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company cut their price objective on International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Argus raised International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Oppenheimer cut their price target on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Morgan Stanley upgraded shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $111.00 to $110.00 in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and an average target price of $103.50.

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.