Investment Management Corp of Ontario Grows Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Investment Management Corp of Ontario grew its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 44.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,414 shares of the specialty chemicals company’s stock after purchasing an additional 2,600 shares during the period. Investment Management Corp of Ontario’s holdings in International Flavors & Fragrances were worth $883,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IFF. Northwest Investment Counselors LLC acquired a new stake in International Flavors & Fragrances in the third quarter valued at $27,000. Point72 Hong Kong Ltd acquired a new stake in International Flavors & Fragrances in the 3rd quarter valued at about $42,000. Family Firm Inc. purchased a new position in International Flavors & Fragrances during the 2nd quarter valued at about $38,000. Oakworth Capital Inc. acquired a new position in International Flavors & Fragrances during the third quarter worth about $44,000. Finally, Eastern Bank purchased a new stake in shares of International Flavors & Fragrances in the third quarter valued at about $46,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Yuvraj Arora sold 5,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $91.75, for a total transaction of $458,750.00. Following the sale, the insider now owns 3,238 shares in the company, valued at $297,086.50. This trade represents a 60.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Mizuho upgraded International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Barclays boosted their price target on International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Oppenheimer increased their price objective on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Vertical Research upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.00.

International Flavors & Fragrances Stock Performance

International Flavors & Fragrances stock opened at $88.92 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 1.93. International Flavors & Fragrances Inc. has a 12 month low of $72.94 and a 12 month high of $106.77. The company has a market cap of $22.74 billion, a price-to-earnings ratio of -9.78, a price-to-earnings-growth ratio of 1.59 and a beta of 1.17. The stock’s 50-day moving average is $96.62 and its 200-day moving average is $97.86.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.46). International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the firm earned $0.89 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 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 Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.80%. International Flavors & Fragrances’s dividend payout ratio is currently -17.60%.

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.