Resona Asset Management Co. Ltd. Takes Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Resona Asset Management Co. Ltd. bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 76,314 shares of the specialty chemicals company's stock, valued at approximately $6,453,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IFF. UMB Bank n.a. increased its stake in shares of International Flavors & Fragrances by 8.9% during the 4th quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 119 shares in the last quarter. Arete Wealth Advisors LLC increased its position in International Flavors & Fragrances by 4.2% during the third quarter. Arete Wealth Advisors LLC now owns 3,061 shares of the specialty chemicals company's stock worth $321,000 after buying an additional 124 shares in the last quarter. Truist Financial Corp raised its holdings in shares of International Flavors & Fragrances by 0.7% in the fourth quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company's stock worth $1,683,000 after acquiring an additional 129 shares during the last quarter. United Community Bank lifted its position in shares of International Flavors & Fragrances by 19.4% in the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock valued at $78,000 after acquiring an additional 150 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of International Flavors & Fragrances by 36.6% during the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock valued at $54,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IFF shares. Wells Fargo & Company reduced their price objective on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday. Cfra lowered International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price objective on the stock. in a research note on Thursday, February 20th. Bank of America dropped 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 research 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 on the stock in a research report on Thursday, February 20th. Finally, Citigroup dropped their price objective on shares of International Flavors & Fragrances from $99.00 to $84.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.69.

Insider Buying and Selling

In related news, Director Kevin O'byrne bought 6,500 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $80.44 per share, with a total value of $522,860.00. Following the transaction, the director now owns 6,500 shares of the company's stock, valued at approximately $522,860. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company's stock.

International Flavors & Fragrances Stock Up 2.6 %

International Flavors & Fragrances stock traded up $1.86 during midday trading on Friday, hitting $73.24. 2,125,058 shares of the stock were exchanged, compared to its average volume of 1,515,438. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. The company has a 50 day moving average price of $79.41 and a two-hundred day moving average price of $87.33. The firm has a market cap of $18.73 billion, a P/E ratio of 77.92, a P/E/G ratio of 1.45 and a beta of 1.21. International Flavors & Fragrances Inc. has a 1 year low of $65.85 and a 1 year high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.14. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.67 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. On average, sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, March 21st. International Flavors & Fragrances's payout ratio is currently 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.