Geode Capital Management LLC Buys 77,521 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Geode Capital Management LLC increased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,008,830 shares of the specialty chemicals company's stock after purchasing an additional 77,521 shares during the quarter. Geode Capital Management LLC owned 2.35% of International Flavors & Fragrances worth $628,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Northwest Investment Counselors LLC bought a new position in shares of International Flavors & Fragrances in the third quarter valued at $27,000. Family Firm Inc. acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth $38,000. Point72 Hong Kong Ltd purchased a new stake in shares of International Flavors & Fragrances during the third quarter valued at $42,000. Oakworth Capital Inc. acquired a new position in shares of International Flavors & Fragrances in the 3rd quarter valued at $44,000. Finally, Eastern Bank purchased a new position in International Flavors & Fragrances in the 3rd quarter worth about $46,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Flavors & Fragrances news, insider Yuvraj Arora sold 5,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $91.75, for a total transaction of $458,750.00. Following the completion of the sale, the insider now directly owns 3,238 shares in the company, valued at $297,086.50. This represents a 60.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

IFF has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. UBS Group raised their price objective on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Mizuho upgraded shares of International Flavors & Fragrances from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Oppenheimer increased their target price on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an "outperform" rating in a report on Wednesday, September 11th. Finally, Bank of America upgraded International Flavors & Fragrances from a "neutral" rating to a "buy" rating and set a $107.00 price target on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, International Flavors & Fragrances has a consensus rating of "Moderate Buy" and a consensus target price of $111.00.

International Flavors & Fragrances Stock Down 0.8 %

IFF traded down $0.70 during midday trading on Friday, hitting $87.40. 1,156,170 shares of the company's stock traded hands, compared to its average volume of 1,659,794. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 1.93. The company has a market cap of $22.35 billion, a PE ratio of -9.61, a price-to-earnings-growth ratio of 1.55 and a beta of 1.17. The stock's fifty day simple moving average is $95.20 and its 200-day simple moving average is $97.59. International Flavors & Fragrances Inc. has a one year low of $72.94 and a one year high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.46). The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. As a group, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, December 20th. International Flavors & Fragrances's payout ratio is -17.60%.

International Flavors & Fragrances Company Profile

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.