84,677 Shares in International Flavors & Fragrances Inc. (NYSE:IFF) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 84,677 shares of the specialty chemicals company’s stock, valued at approximately $7,189,000.

Several other large investors have also recently modified their holdings of IFF. UMB Bank n.a. grew its position in International Flavors & Fragrances by 8.9% during the 4th quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company’s stock worth $123,000 after acquiring an additional 119 shares during the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of International Flavors & Fragrances by 4.2% in the third quarter. Arete Wealth Advisors LLC now owns 3,061 shares of the specialty chemicals company’s stock worth $321,000 after purchasing an additional 124 shares during the last quarter. Truist Financial Corp increased its stake in shares of International Flavors & Fragrances by 0.7% in the fourth quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company’s stock worth $1,683,000 after buying an additional 129 shares during the period. United Community Bank raised its holdings in International Flavors & Fragrances by 19.4% during the 4th quarter. United Community Bank now owns 925 shares of the specialty chemicals company’s stock valued at $78,000 after buying an additional 150 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in International Flavors & Fragrances by 36.6% during the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IFF shares. Stifel Nicolaus lowered their price objective on shares of International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price target 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. Barclays cut their price objective 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. Oppenheimer dropped their price target on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Argus raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Activity

In related news, Director Kevin O’byrne bought 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the completion of the acquisition, the director now owns 6,500 shares of the company’s stock, valued at $522,860. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Down 0.3 %

Shares of NYSE:IFF opened at $77.58 on Tuesday. International Flavors & Fragrances Inc. has a 12-month low of $77.05 and a 12-month high of $106.77. The stock has a market capitalization of $19.84 billion, a price-to-earnings ratio of 82.53, a PEG ratio of 1.45 and a beta of 1.21. The stock has a fifty day simple moving average of $83.12 and a two-hundred day simple moving average of $90.52. 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 announced its quarterly earnings data 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. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. On average, research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

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

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.