3,872 Shares in International Flavors & Fragrances Inc. (NYSE:IFF) Bought by Synovus Financial Corp

Synovus Financial Corp acquired a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,872 shares of the specialty chemicals company's stock, valued at approximately $327,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in International Flavors & Fragrances during the fourth quarter worth $32,000. Fairway Wealth LLC bought a new stake in shares of International Flavors & Fragrances in the 4th quarter worth $34,000. Rialto Wealth Management LLC purchased a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at about $42,000. Principal Securities Inc. lifted its position 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 purchasing an additional 171 shares in the last quarter. Finally, Sugar Maple Asset Management LLC bought a new stake in International Flavors & Fragrances in the 4th quarter worth about $78,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on IFF. JPMorgan Chase & Co. dropped their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Mizuho cut their price objective on International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Citigroup reduced their price objective on International Flavors & Fragrances from $99.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Argus upgraded International Flavors & Fragrances from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus reduced their price target on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, International Flavors & Fragrances presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.54.

International Flavors & Fragrances Price Performance

IFF traded up $1.93 during trading on Wednesday, reaching $76.57. 410,119 shares of the company were exchanged, compared to its average volume of 1,526,708. The company's 50-day moving average is $77.72 and its two-hundred day moving average is $85.98. International Flavors & Fragrances Inc. has a 12-month low of $65.85 and a 12-month high of $106.77. The company has a market cap of $19.58 billion, a price-to-earnings ratio of 81.46, a P/E/G ratio of 1.45 and a beta of 1.21. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.67 billion. Research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Friday, March 21st. International Flavors & Fragrances's dividend payout ratio is 170.21%.

Insider Buying and Selling

In other International Flavors & Fragrances news, Director Kevin O'byrne purchased 6,500 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the transaction, the director now owns 6,500 shares in the company, valued at $522,860. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

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.