Principal Financial Group Inc. Increases Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Principal Financial Group Inc. raised its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 470,676 shares of the specialty chemicals company's stock after acquiring an additional 9,555 shares during the quarter. Principal Financial Group Inc. owned 0.18% of International Flavors & Fragrances worth $49,388,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in International Flavors & Fragrances during the third quarter worth about $27,000. Point72 Hong Kong Ltd purchased a new stake in shares of International Flavors & Fragrances during the 3rd quarter worth approximately $42,000. Oakworth Capital Inc. purchased a new position in International Flavors & Fragrances in the 3rd quarter valued at approximately $44,000. Eastern Bank acquired a new position in International Flavors & Fragrances during the third quarter worth $46,000. Finally, Ashton Thomas Securities LLC purchased a new stake in International Flavors & Fragrances during the third quarter worth $48,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Flavors & Fragrances

In related news, insider Yuvraj Arora sold 5,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $91.75, for a total transaction of $458,750.00. Following the sale, the insider now directly owns 3,238 shares in the company, valued at approximately $297,086.50. This trade represents a 60.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

International Flavors & Fragrances Trading Down 1.1 %

Shares of IFF traded down $0.95 during mid-day trading on Monday, reaching $84.79. The company had a trading volume of 1,334,596 shares, compared to its average volume of 1,663,787. International Flavors & Fragrances Inc. has a fifty-two week low of $72.94 and a fifty-two week high of $106.77. The firm has a fifty day simple moving average of $93.60 and a 200-day simple moving average of $97.26. The stock has a market cap of $21.68 billion, a price-to-earnings ratio of -9.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.17. The company has a current ratio of 2.62, a quick ratio of 1.93 and a debt-to-equity ratio of 0.58.

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

International Flavors & Fragrances Dividend Announcement

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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances's payout ratio is currently -17.60%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IFF. JPMorgan Chase & Co. decreased their price objective on shares of International Flavors & Fragrances from $110.00 to $107.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Citigroup lowered their price target on shares of International Flavors & Fragrances from $110.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. Vertical Research upgraded International Flavors & Fragrances from a "hold" rating to a "buy" rating and set a $109.00 price objective for the company in a research report on Thursday, November 7th. 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, UBS Group boosted their price target on International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $110.21.

About International Flavors & Fragrances

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.