Alliancebernstein L.P. Acquires 55,092 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Alliancebernstein L.P. raised its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 10.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 576,058 shares of the specialty chemicals company’s stock after purchasing an additional 55,092 shares during the quarter. Alliancebernstein L.P.’s holdings in International Flavors & Fragrances were worth $48,706,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in IFF. SBI Securities Co. Ltd. acquired a new stake in International Flavors & Fragrances during the fourth quarter worth $32,000. Fairway Wealth LLC bought a new position in International Flavors & Fragrances during the fourth quarter worth about $34,000. Rialto Wealth Management LLC acquired a new position in shares of International Flavors & Fragrances in the 4th quarter worth approximately $42,000. Principal Securities Inc. raised its stake 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 worth $54,000 after acquiring an additional 171 shares in the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of International Flavors & Fragrances during the 4th quarter worth about $78,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Kevin O’byrne bought 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $80.44 per share, with a total value of $522,860.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at approximately $522,860. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $73.01 on Friday. The firm’s 50 day moving average price is $81.66 and its two-hundred day moving average price is $89.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84. International Flavors & Fragrances Inc. has a twelve month low of $72.82 and a twelve month high of $106.77. The firm has a market cap of $18.67 billion, a P/E ratio of 77.67, a PEG ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF) last released its 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. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.67 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. On average, analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, March 21st. International Flavors & Fragrances’s payout ratio is 170.21%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Argus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company reduced their price target on shares of 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. Oppenheimer lowered their price objective on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. reduced their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, Bank of America lowered their price target on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.31.

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.