Franklin Resources Inc. Raises Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Franklin Resources Inc. increased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 101.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,156 shares of the specialty chemicals company’s stock after buying an additional 42,978 shares during the period. Franklin Resources Inc.’s holdings in International Flavors & Fragrances were worth $7,200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in International Flavors & Fragrances in the fourth quarter valued at $32,000. Fairway Wealth LLC bought a new position in International Flavors & Fragrances in the fourth quarter valued at $34,000. Rialto Wealth Management LLC bought a new position in International Flavors & Fragrances in the fourth quarter valued at $42,000. Principal Securities Inc. increased its stake in International Flavors & Fragrances by 36.6% in the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock valued at $54,000 after acquiring an additional 171 shares during the last quarter. Finally, Sugar Maple Asset Management LLC bought a new position in International Flavors & Fragrances in the fourth quarter valued at $78,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Activity

In other International Flavors & Fragrances news, Director Kevin O’byrne bought 6,500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost 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 approximately $522,860. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IFF. Barclays reduced their target price on International Flavors & Fragrances from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company reduced their price objective on International Flavors & Fragrances from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America reduced their price objective on International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Argus raised International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Finally, Oppenheimer reduced their price objective on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.54.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $73.01 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. International Flavors & Fragrances Inc. has a one year low of $65.85 and a one year high of $106.77. The company has a 50-day simple moving average of $79.96 and a two-hundred day simple moving average of $87.89. The firm has a market capitalization of $18.67 billion, a PE ratio of 77.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.83 by $0.14. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.67 billion. On average, analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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

International Flavors & Fragrances Company 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.