Cibc World Markets Corp Purchases 103,810 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Cibc World Markets Corp grew its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 299.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 138,522 shares of the specialty chemicals company's stock after purchasing an additional 103,810 shares during the quarter. Cibc World Markets Corp owned about 0.05% of International Flavors & Fragrances worth $11,712,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IFF. Van ECK Associates Corp increased its stake in International Flavors & Fragrances by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 5,664,250 shares of the specialty chemicals company's stock valued at $478,912,000 after purchasing an additional 1,663,629 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of International Flavors & Fragrances by 25.7% in the 4th quarter. Nordea Investment Management AB now owns 5,489,741 shares of the specialty chemicals company's stock valued at $464,926,000 after buying an additional 1,121,414 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of International Flavors & Fragrances by 30.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 926,873 shares of the specialty chemicals company's stock valued at $78,367,000 after buying an additional 218,792 shares in the last quarter. State Street Corp raised its stake in International Flavors & Fragrances by 1.9% during the 3rd quarter. State Street Corp now owns 10,467,517 shares of the specialty chemicals company's stock worth $1,102,363,000 after buying an additional 196,696 shares during the period. Finally, OFI Invest Asset Management bought a new position in International Flavors & Fragrances during the fourth quarter worth about $16,037,000. 96.02% of the stock is currently owned by institutional investors.

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Insider Activity at International Flavors & Fragrances

In related news, Director Kevin O'byrne acquired 6,500 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were 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 directly owns 6,500 shares in the company, valued at approximately $522,860. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IFF has been the topic of a number of research analyst reports. Argus raised International Flavors & Fragrances from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Oppenheimer dropped their target price 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. Bank of America reduced their price target on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Wells Fargo & Company dropped their price objective on shares of International Flavors & Fragrances from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Finally, Stifel Nicolaus reduced their target price on shares of International Flavors & Fragrances from $113.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, International Flavors & Fragrances presently has a consensus rating of "Moderate Buy" and an average price target of $103.77.

International Flavors & Fragrances Stock Down 1.8 %

IFF traded down $1.41 during trading on Friday, reaching $77.93. 3,934,125 shares of the stock were exchanged, compared to its average volume of 1,464,972. 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 stock's 50 day moving average price is $83.30 and its two-hundred day moving average price is $91.05. International Flavors & Fragrances Inc. has a twelve month low of $77.29 and a twelve month high of $106.77. The stock has a market cap of $19.93 billion, a P/E ratio of 82.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.67 billion. Equities analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, March 21st. International Flavors & Fragrances's payout ratio is presently 170.21%.

About International Flavors & Fragrances

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.