Allstate Corp Takes Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Allstate Corp acquired a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,597 shares of the specialty chemicals company’s stock, valued at approximately $642,000.

Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in shares of International Flavors & Fragrances by 12.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,102 shares of the specialty chemicals company’s stock worth $1,270,000 after purchasing an additional 1,329 shares in the last quarter. Cerity Partners LLC boosted its holdings in International Flavors & Fragrances by 75.4% in the third quarter. Cerity Partners LLC now owns 18,820 shares of the specialty chemicals company’s stock worth $1,975,000 after acquiring an additional 8,089 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of International Flavors & Fragrances by 14.3% during the third quarter. Public Sector Pension Investment Board now owns 11,194 shares of the specialty chemicals company’s stock worth $1,175,000 after acquiring an additional 1,400 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of International Flavors & Fragrances during the third quarter valued at about $631,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of International Flavors & Fragrances in the 3rd quarter valued at approximately $42,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF opened at $77.69 on Tuesday. 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 stock has a market capitalization of $19.87 billion, a price-to-earnings ratio of 82.65, a PEG ratio of 1.45 and a beta of 1.21. The firm’s 50 day simple moving average is $82.42 and its 200-day simple moving average is $89.61. International Flavors & Fragrances Inc. has a 12 month low of $75.73 and a 12 month high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results 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. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. Analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a $0.40 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. International Flavors & Fragrances’s payout ratio is 170.21%.

Analyst Ratings Changes

A number of research analysts have issued reports on IFF shares. Bank of America cut their price target on shares of International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Citigroup dropped their price target on International Flavors & Fragrances from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price objective on International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Oppenheimer dropped their target price on 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.31.

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Kevin O’byrne bought 6,500 shares of International Flavors & Fragrances stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $80.44 per share, with a total value of $522,860.00. Following the purchase, the director now directly owns 6,500 shares in the company, valued at $522,860. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

International Flavors & Fragrances Company Profile

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.