Allstate Corp Purchases Shares of 7,597 International Flavors & Fragrances Inc. (NYSE:IFF)

Allstate Corp acquired a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,597 shares of the specialty chemicals company’s stock, valued at approximately $642,000.

Several other large investors have also recently made changes to their positions in IFF. SBI Securities Co. Ltd. bought a new stake in International Flavors & Fragrances in the 4th quarter worth approximately $32,000. Point72 Hong Kong Ltd purchased a new position in shares of International Flavors & Fragrances in the third quarter valued at $42,000. Fairway Wealth LLC bought a new stake in International Flavors & Fragrances in the fourth quarter worth $34,000. Rialto Wealth Management LLC purchased a new stake in International Flavors & Fragrances during the fourth quarter valued at $42,000. Finally, Principal Securities Inc. lifted its position in International Flavors & Fragrances by 36.6% during the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock valued at $54,000 after purchasing an additional 171 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Trading Up 1.6 %

IFF opened at $77.69 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average is $82.42 and its two-hundred day moving average is $89.61. The company has a market capitalization of $19.87 billion, a P/E ratio of 82.65, a PEG ratio of 1.45 and a beta of 1.21. International Flavors & Fragrances Inc. has a 52 week low of $75.73 and a 52 week high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, beating 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 firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.67 billion. Analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. International Flavors & Fragrances’s payout ratio is presently 170.21%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of 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. Citigroup decreased their price objective on International Flavors & Fragrances from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Finally, Cfra cut shares of International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price objective on the stock. in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

Insider Activity at International Flavors & Fragrances

In related news, Director Kevin O’byrne bought 6,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $80.44 per share, with a total value of $522,860.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $522,860. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.