ING Groep NV Boosts Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

ING Groep NV grew its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 132.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,468 shares of the specialty chemicals company’s stock after purchasing an additional 9,375 shares during the period. ING Groep NV’s holdings in International Flavors & Fragrances were worth $2,299,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of IFF. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in International Flavors & Fragrances by 140.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,358 shares of the specialty chemicals company’s stock worth $2,004,000 after purchasing an additional 8,377 shares during the last quarter. NFC Investments LLC acquired a new position in shares of International Flavors & Fragrances in the first quarter worth about $1,966,000. State of Wisconsin Investment Board increased its stake in shares of International Flavors & Fragrances by 1.1% during the fourth quarter. State of Wisconsin Investment Board now owns 923,401 shares of the specialty chemicals company’s stock worth $100,503,000 after purchasing an additional 9,602 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in International Flavors & Fragrances during the 1st quarter valued at about $24,143,000. Finally, Davy Global Fund Management Ltd grew its stake in International Flavors & Fragrances by 60.4% during the 1st quarter. Davy Global Fund Management Ltd now owns 47,210 shares of the specialty chemicals company’s stock valued at $6,591,000 after acquiring an additional 17,781 shares in the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Flavors & Fragrances from $151.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 5th. JPMorgan Chase & Co. raised their price objective on shares of International Flavors & Fragrances from $141.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, March 26th. Morgan Stanley restated an “overweight” rating and issued a $160.00 target price on shares of International Flavors & Fragrances in a research note on Monday, April 19th. Wells Fargo & Company raised their price objective on shares of International Flavors & Fragrances from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, May 12th. Finally, Berenberg Bank upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and boosted their target price for the company from $139.00 to $160.00 in a report on Thursday, March 25th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. International Flavors & Fragrances currently has an average rating of “Buy” and an average price target of $145.57.

Shares of NYSE:IFF opened at $147.75 on Friday. The firm has a fifty day simple moving average of $142.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.89. The firm has a market capitalization of $36.78 billion, a price-to-earnings ratio of 79.86, a PEG ratio of 2.45 and a beta of 0.96. International Flavors & Fragrances Inc. has a twelve month low of $99.54 and a twelve month high of $148.17.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Monday, May 10th. The specialty chemicals company reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.09. International Flavors & Fragrances had a return on equity of 7.94% and a net margin of 3.17%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the company earned $1.62 EPS. The company’s revenue for the quarter was up 83.0% compared to the same quarter last year. On average, analysts predict that International Flavors & Fragrances Inc. will post 5.98 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 6th. Shareholders of record on Friday, June 25th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, June 24th. International Flavors & Fragrances’s dividend payout ratio (DPR) is 54.04%.

In related news, Director Ilene S. Gordon bought 1,000 shares of the business’s stock in a transaction dated Friday, May 14th. The stock was purchased at an average cost of $140.39 per share, for a total transaction of $140,390.00. Following the transaction, the director now owns 1,255 shares in the company, valued at approximately $176,189.45. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Simon Herriott sold 1,332 shares of the company’s stock in a transaction on Thursday, May 13th. The stock was sold at an average price of $138.47, for a total value of $184,442.04. Following the sale, the insider now owns 2,847 shares of the company’s stock, valued at $394,224.09. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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