State Street Corp Acquires 196,696 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

State Street Corp boosted its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,467,517 shares of the specialty chemicals company's stock after buying an additional 196,696 shares during the period. State Street Corp owned approximately 4.09% of International Flavors & Fragrances worth $1,102,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors 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 worth approximately $27,000. Family Firm Inc. bought a new position in shares of International Flavors & Fragrances in the 2nd quarter worth $38,000. Point72 Hong Kong Ltd purchased a new stake in shares of International Flavors & Fragrances during the 3rd quarter valued at $42,000. Oakworth Capital Inc. bought a new stake in shares of International Flavors & Fragrances during the 3rd quarter worth $44,000. Finally, Eastern Bank purchased a new position in International Flavors & Fragrances in the third quarter worth $46,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Down 0.1 %

Shares of NYSE IFF traded down $0.08 during mid-day trading on Friday, hitting $88.92. 992,336 shares of the stock traded hands, compared to its average volume of 1,681,603. The stock has a fifty day moving average price of $96.62 and a 200-day moving average price of $97.86. 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 company has a market cap of $22.74 billion, a price-to-earnings ratio of -9.78, a PEG ratio of 1.58 and a beta of 1.17. 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 posted its quarterly 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). International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. The company had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The business's quarterly revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances's payout ratio is currently -17.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $111.00 to $110.00 in a research report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price target on shares of International Flavors & Fragrances from $110.00 to $107.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Bank of America raised shares of International Flavors & Fragrances from a "neutral" rating to a "buy" rating and set a $107.00 target price on the stock in a report on Friday, November 8th. Oppenheimer raised their price objective 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. Finally, UBS Group increased their target price on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.00.

Insider Activity at International Flavors & Fragrances

In other news, insider Yuvraj Arora sold 5,000 shares of International Flavors & Fragrances stock in a transaction on Monday, November 11th. The shares were sold at an average price of $91.75, for a total transaction of $458,750.00. Following the transaction, the insider now owns 3,238 shares in the company, valued at $297,086.50. This trade represents a 60.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.