117,819 Shares in International Flavors & Fragrances Inc. (NYSE:IFF) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 117,819 shares of the specialty chemicals company's stock, valued at approximately $9,962,000.

Several other large investors have also bought and sold shares of IFF. Empowered Funds LLC boosted its position in shares of International Flavors & Fragrances by 6.5% during the third quarter. Empowered Funds LLC now owns 4,130 shares of the specialty chemicals company's stock valued at $433,000 after buying an additional 251 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in International Flavors & Fragrances by 12.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,102 shares of the specialty chemicals company's stock valued at $1,270,000 after acquiring an additional 1,329 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of International Flavors & Fragrances in the third quarter worth approximately $1,740,000. PNC Financial Services Group Inc. raised its holdings in shares of International Flavors & Fragrances by 5.3% during the third quarter. PNC Financial Services Group Inc. now owns 38,705 shares of the specialty chemicals company's stock valued at $4,061,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in International Flavors & Fragrances during the third quarter valued at approximately $1,153,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Kevin O'byrne bought 6,500 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $80.44 per share, with a total value of $522,860.00. Following the completion of the acquisition, the director now owns 6,500 shares in the company, valued at $522,860. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock traded down $0.63 on Tuesday, hitting $76.90. 1,441,372 shares of the company traded hands, compared to its average volume of 1,460,672. International Flavors & Fragrances Inc. has a 52 week low of $77.05 and a 52 week high of $106.77. The business has a 50-day simple moving average of $83.12 and a 200 day simple moving average of $90.52. 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 has a market capitalization of $19.67 billion, a P/E ratio of 81.81, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly 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 the consensus estimate of $2.67 billion. Research analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, March 21st. International Flavors & Fragrances's dividend payout ratio is presently 170.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Argus upgraded shares of International Flavors & Fragrances from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Cfra downgraded International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 target price on the stock. in a report on Thursday, February 20th. Oppenheimer reduced their price target on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Bank of America reduced their target price 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. Finally, Wells Fargo & Company cut their price target on International Flavors & Fragrances from $115.00 to $105.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.77.

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.