Sumitomo Mitsui DS Asset Management Company Ltd Boosts Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 14.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 27,892 shares of the specialty chemicals company’s stock after buying an additional 3,592 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in International Flavors & Fragrances were worth $2,258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Winder Pte. Ltd. purchased a new position in International Flavors & Fragrances in the third quarter valued at approximately $1,728,544,000. Nordea Investment Management AB raised its holdings in International Flavors & Fragrances by 16.3% in the third quarter. Nordea Investment Management AB now owns 5,672,776 shares of the specialty chemicals company’s stock valued at $388,358,000 after buying an additional 795,797 shares during the period. Van ECK Associates Corp raised its stake in shares of International Flavors & Fragrances by 34.0% during the third quarter. Van ECK Associates Corp now owns 3,927,108 shares of the specialty chemicals company’s stock valued at $267,711,000 after purchasing an additional 996,629 shares during the period. First Pacific Advisors LP raised its stake in shares of International Flavors & Fragrances by 15.8% during the third quarter. First Pacific Advisors LP now owns 3,893,127 shares of the specialty chemicals company’s stock valued at $265,394,000 after purchasing an additional 530,595 shares during the period. Finally, Northern Trust Corp raised its stake in shares of International Flavors & Fragrances by 6.1% during the third quarter. Northern Trust Corp now owns 3,119,754 shares of the specialty chemicals company’s stock valued at $212,674,000 after purchasing an additional 179,894 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

International Flavors & Fragrances stock opened at $85.14 on Thursday. The company has a fifty day moving average price of $81.92 and a two-hundred day moving average price of $77.89. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.63. International Flavors & Fragrances Inc. has a 12 month low of $62.11 and a 12 month high of $97.49.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. On average, equities analysts anticipate that International Flavors & Fragrances Inc. will post 3.69 earnings per share for the current fiscal year.

International Flavors & Fragrances Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Thursday, March 21st. International Flavors & Fragrances’s payout ratio is -15.94%.

Wall Street Analyst Weigh In

IFF has been the topic of a number of analyst reports. StockNews.com upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Wolfe Research initiated coverage on shares of International Flavors & Fragrances in a research note on Friday, March 1st. They set an “underperform” rating on the stock. Jefferies Financial Group upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $112.00 in a research note on Friday, January 12th. UBS Group lifted their price objective on shares of International Flavors & Fragrances from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Finally, Barclays upgraded shares of International Flavors & Fragrances from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Hold” and an average target price of $86.35.

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.