Allstate Corp Buys Shares of 7,597 International Flavors & Fragrances Inc. (NYSE:IFF)

Allstate Corp bought a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,597 shares of the specialty chemicals company's stock, valued at approximately $642,000.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of International Flavors & Fragrances by 8.9% in the fourth quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 119 shares during the last quarter. Arete Wealth Advisors LLC grew its holdings in International Flavors & Fragrances by 4.2% in the 3rd quarter. Arete Wealth Advisors LLC now owns 3,061 shares of the specialty chemicals company's stock worth $321,000 after acquiring an additional 124 shares during the last quarter. Truist Financial Corp increased its position in shares of International Flavors & Fragrances by 0.7% in the fourth quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company's stock valued at $1,683,000 after acquiring an additional 129 shares during the period. United Community Bank raised its stake in shares of International Flavors & Fragrances by 19.4% during the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock valued at $78,000 after acquiring an additional 150 shares during the last quarter. Finally, Principal Securities Inc. boosted its holdings 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 worth $54,000 after purchasing an additional 171 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

International Flavors & Fragrances Stock Down 4.5 %

Shares of IFF traded down $3.44 during mid-day trading on Friday, reaching $73.01. The company had a trading volume of 2,726,543 shares, compared to its average volume of 1,486,005. International Flavors & Fragrances Inc. has a 52 week low of $72.82 and a 52 week high of $106.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84. The company has a market capitalization of $18.67 billion, a price-to-earnings ratio of 77.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The firm has a 50-day moving average price of $81.66 and a 200 day moving average price of $88.94.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results 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. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.67 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. On average, sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current 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 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%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Cfra lowered International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price target for the company. in a research report on Thursday, February 20th. Stifel Nicolaus decreased their target price on International Flavors & Fragrances from $113.00 to $105.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Oppenheimer cut their price target on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Citigroup decreased their price objective on shares of International Flavors & Fragrances from $110.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. Finally, Barclays cut their target price on shares of 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. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $103.31.

Insider Activity

In other International Flavors & Fragrances news, Director Kevin O'byrne purchased 6,500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $80.44 per share, with a total value of $522,860.00. Following the completion of the acquisition, the director now directly owns 6,500 shares in the company, valued at $522,860. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.