National Bank of Canada FI Buys 60,288 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

National Bank of Canada FI raised its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 62.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 156,318 shares of the specialty chemicals company's stock after purchasing an additional 60,288 shares during the quarter. National Bank of Canada FI owned 0.06% of International Flavors & Fragrances worth $16,402,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IFF. Sumitomo Mitsui Trust Group Inc. raised its holdings in International Flavors & Fragrances by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 615,006 shares of the specialty chemicals company's stock worth $64,533,000 after purchasing an additional 7,553 shares during the period. Kimelman & Baird LLC bought a new position in International Flavors & Fragrances during the second quarter valued at $868,000. GM Advisory Group LLC purchased a new stake in International Flavors & Fragrances during the 2nd quarter valued at $686,000. Appian Way Asset Management LP bought a new position in shares of International Flavors & Fragrances during the second quarter valued at approximately $2,990,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in International Flavors & Fragrances in the 3rd quarter worth about $1,740,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on IFF. Stifel Nicolaus boosted their target price on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Oppenheimer lifted their price target on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an "outperform" rating in a research note on Wednesday, September 11th. UBS Group increased their price objective on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on International Flavors & Fragrances from $110.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $111.00 to $110.00 in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $111.00.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF traded down $0.71 during trading on Wednesday, reaching $87.84. The company had a trading volume of 1,979,434 shares, compared to its average volume of 1,661,729. The stock has a market cap of $22.46 billion, a PE ratio of -9.66, a PEG ratio of 1.57 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.93 and a current ratio of 2.62. The business's 50 day moving average price is $96.01 and its 200-day moving average price is $97.78. International Flavors & Fragrances Inc. has a 52 week low of $72.94 and a 52 week high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46). The company 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 company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. Analysts expect that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.82%. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -17.60%.

Insider Buying and Selling at International Flavors & Fragrances

In related 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 value of $458,750.00. Following the transaction, the insider now directly owns 3,238 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Corporate insiders own 0.20% of the company's stock.

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.