Toronto Dominion Bank Grows Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Toronto Dominion Bank boosted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 8.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 136,779 shares of the specialty chemicals company’s stock after acquiring an additional 10,522 shares during the quarter. Toronto Dominion Bank’s holdings in International Flavors & Fragrances were worth $11,565,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in International Flavors & Fragrances in the fourth quarter worth $32,000. Fairway Wealth LLC purchased a new stake in shares of International Flavors & Fragrances in the 4th quarter worth about $34,000. Rialto Wealth Management LLC bought a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at about $42,000. Principal Securities Inc. increased its position in shares of International Flavors & Fragrances by 36.6% during the fourth 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. Finally, Sugar Maple Asset Management LLC bought a new position in International Flavors & Fragrances in the fourth quarter worth about $78,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on IFF shares. Morgan Stanley reduced their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Oppenheimer reduced their price target on International Flavors & Fragrances from $104.00 to $89.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Cfra lowered International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price objective for the company. in a research report on Thursday, February 20th. JPMorgan Chase & Co. dropped 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 report on Thursday, February 20th. Finally, Barclays upgraded shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $76.00 to $84.00 in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.54.

International Flavors & Fragrances Stock Performance

Shares of International Flavors & Fragrances stock opened at $77.84 on Wednesday. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 82.81, a PEG ratio of 1.45 and a beta of 1.08. 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 1 year low of $65.85 and a 1 year high of $106.77. The firm’s 50-day moving average is $75.82 and its 200 day moving average is $82.36.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.08. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 20th. This represents a $1.60 annualized dividend and a yield of 2.06%. International Flavors & Fragrances’s dividend payout ratio is -48.93%.

Insiders Place Their Bets

In related news, EVP Stephen N. Landsman acquired 12,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were bought at an average price of $77.28 per share, for a total transaction of $927,360.00. Following the completion of the transaction, the executive vice president now directly owns 12,000 shares in the company, valued at approximately $927,360. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hernandez Margarita Palau bought 850 shares of the business’s stock in a transaction on Monday, May 19th. The stock was bought at an average cost of $77.42 per share, with a total value of $65,807.00. Following the transaction, the director now owns 2,393 shares in the company, valued at $185,266.06. This trade represents a 55.09% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 24,050 shares of company stock valued at $1,869,147. Corporate insiders own 0.20% of the company’s stock.

International Flavors & Fragrances 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.