Geode Capital Management LLC Grows Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Geode Capital Management LLC increased its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,166,778 shares of the specialty chemicals company's stock after buying an additional 157,948 shares during the quarter. Geode Capital Management LLC owned about 2.41% of International Flavors & Fragrances worth $520,032,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board grew its stake in shares of International Flavors & Fragrances by 14.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,194 shares of the specialty chemicals company's stock worth $1,175,000 after acquiring an additional 1,400 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of International Flavors & Fragrances in the third quarter worth about $631,000. Benjamin Edwards Inc. bought a new stake in International Flavors & Fragrances during the 3rd quarter valued at $994,000. Centiva Capital LP purchased a new stake in International Flavors & Fragrances during the 3rd quarter worth about $348,000. Finally, Investment Management Corp of Ontario lifted its holdings in shares of International Flavors & Fragrances by 44.7% in the third quarter. Investment Management Corp of Ontario now owns 8,414 shares of the specialty chemicals company's stock worth $883,000 after buying an additional 2,600 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Flavors & Fragrances

In other news, Director Kevin O'byrne purchased 6,500 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the acquisition, the director now directly owns 6,500 shares of the company's stock, valued at $522,860. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

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International Flavors & Fragrances Stock Performance

Shares of IFF stock traded up $6.16 during trading hours on Wednesday, reaching $73.01. 4,084,247 shares of the company traded hands, compared to its average volume of 1,510,665. The firm has a 50-day moving average price of $79.96 and a 200 day moving average price of $87.89. The company has a market cap of $18.67 billion, a P/E ratio of 77.67, a P/E/G ratio of 1.45 and a beta of 1.21. International Flavors & Fragrances Inc. has a 12-month low of $65.85 and a 12-month high of $106.77. 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 (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.14. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. As a group, sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.60 annualized dividend and a yield of 2.19%. International Flavors & Fragrances's payout ratio is 170.21%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IFF shares. Wells Fargo & Company dropped their price target on International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday. Stifel Nicolaus lowered their price objective on International Flavors & Fragrances from $113.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. 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. Argus raised International Flavors & Fragrances from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $100.54.

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.