Smith Group Asset Management LLC Invests $22.40 Million in International Flavors & Fragrances Inc. (NYSE:IFF)

Smith Group Asset Management LLC purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 213,466 shares of the specialty chemicals company’s stock, valued at approximately $22,399,000. International Flavors & Fragrances makes up 1.9% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Smith Group Asset Management LLC owned 0.08% of International Flavors & Fragrances as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IFF. Ilex Capital Partners UK LLP raised its stake in shares of International Flavors & Fragrances by 344.5% during the 1st quarter. Ilex Capital Partners UK LLP now owns 847,504 shares of the specialty chemicals company’s stock worth $72,877,000 after purchasing an additional 656,820 shares in the last quarter. Albar Capital Ltd raised its stake in shares of International Flavors & Fragrances by 73.5% during the 2nd quarter. Albar Capital Ltd now owns 1,146,234 shares of the specialty chemicals company’s stock worth $109,133,000 after purchasing an additional 485,433 shares in the last quarter. Swedbank AB bought a new position in shares of International Flavors & Fragrances in the 1st quarter valued at approximately $19,945,000. Point72 Europe London LLP raised its stake in shares of International Flavors & Fragrances by 50.0% in the 2nd quarter. Point72 Europe London LLP now owns 627,412 shares of the specialty chemicals company’s stock valued at $59,736,000 after acquiring an additional 209,098 shares in the last quarter. Finally, Easterly Investment Partners LLC raised its stake in shares of International Flavors & Fragrances by 1,115.5% in the 1st quarter. Easterly Investment Partners LLC now owns 198,498 shares of the specialty chemicals company’s stock valued at $17,069,000 after acquiring an additional 182,167 shares in the last quarter. 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 $102.20 on Tuesday. The stock’s fifty day simple moving average is $102.96 and its 200 day simple moving average is $97.47. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of -11.08, a P/E/G ratio of 1.86 and a beta of 1.22. International Flavors & Fragrances Inc. has a one year low of $63.21 and a one year high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.01 by $0.15. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. International Flavors & Fragrances’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts expect that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group cut their price objective on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Stifel Nicolaus lifted their price target on International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Mizuho raised International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Citigroup lifted their price target on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Oppenheimer lifted their price target on International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, International Flavors & Fragrances has an average rating of “Moderate Buy” and an average target price of $107.86.

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.