Eastern Bank Acquires New Shares in International Flavors & Fragrances Inc. (NYSE:IFF)

Eastern Bank purchased a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 440 shares of the specialty chemicals company’s stock, valued at approximately $46,000.

Other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of International Flavors & Fragrances during the 3rd quarter valued at $27,000. Quent Capital LLC grew its position in International Flavors & Fragrances by 183.2% in the first quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 240 shares in the last quarter. Family Firm Inc. purchased a new position in International Flavors & Fragrances in the second quarter worth $38,000. Fidelis Capital Partners LLC purchased a new position in International Flavors & Fragrances in the first quarter worth $44,000. Finally, Larson Financial Group LLC grew its position in International Flavors & Fragrances by 5,050.0% in the first quarter. Larson Financial Group LLC now owns 515 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 505 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Trading Down 1.0 %

Shares of IFF stock opened at $101.45 on Friday. International Flavors & Fragrances Inc. has a 12-month low of $63.21 and a 12-month high of $106.77. The company has a current ratio of 2.38, a quick ratio of 1.75 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $102.89 and its 200 day moving average is $97.28. The stock has a market capitalization of $25.94 billion, a P/E ratio of -11.00, a P/E/G ratio of 1.86 and a beta of 1.22.

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

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 20th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) is -17.35%.

Analyst Ratings Changes

IFF has been the subject of several recent research reports. UBS Group lowered their price target on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Mizuho raised shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $109.00 to $120.00 in a research note on Tuesday, September 3rd. Barclays boosted their price target on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their price objective on shares of International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Oppenheimer upped their price objective on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.86.

About International Flavors & Fragrances

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.