Covington Capital Management Grows Stake in Internationa Flavors & Fragrances, Inc. (IFF)

Covington Capital Management grew its position in Internationa Flavors & Fragrances, Inc. (NYSE:IFF) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,088 shares of the specialty chemicals company’s stock after acquiring an additional 1,615 shares during the quarter. Covington Capital Management’s holdings in Internationa Flavors & Fragrances were worth $4,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Winder Investment Pte Ltd lifted its position in shares of Internationa Flavors & Fragrances by 6.9% in the second quarter. Winder Investment Pte Ltd now owns 9,250,793 shares of the specialty chemicals company’s stock valued at $1,248,857,000 after acquiring an additional 595,140 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Internationa Flavors & Fragrances by 8.2% in the second quarter. Vanguard Group Inc. now owns 8,765,573 shares of the specialty chemicals company’s stock valued at $1,183,352,000 after purchasing an additional 666,120 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Internationa Flavors & Fragrances by 2.3% in the second quarter. BlackRock Inc. now owns 5,034,108 shares of the specialty chemicals company’s stock valued at $679,605,000 after purchasing an additional 113,160 shares during the last quarter. State Street Corp increased its holdings in shares of Internationa Flavors & Fragrances by 0.5% in the first quarter. State Street Corp now owns 3,499,382 shares of the specialty chemicals company’s stock valued at $463,783,000 after purchasing an additional 16,648 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Internationa Flavors & Fragrances by 12.4% in the second quarter. Wells Fargo & Company MN now owns 1,258,885 shares of the specialty chemicals company’s stock valued at $169,949,000 after purchasing an additional 139,261 shares during the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Covington Capital Management Grows Stake in Internationa Flavors & Fragrances, Inc. (IFF)” was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this news story can be accessed at https://sportsperspectives.com/2017/10/13/covington-capital-management-grows-stake-in-internationa-flavors-fragrances-inc-iff.html.

Several equities research analysts recently commented on the company. Deutsche Bank AG reaffirmed a “hold” rating and issued a $139.00 price target (up previously from $135.00) on shares of Internationa Flavors & Fragrances in a report on Thursday, August 10th. BidaskClub raised Internationa Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Barclays PLC reaffirmed a “sell” rating and issued a $123.00 price target on shares of Internationa Flavors & Fragrances in a report on Friday, August 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $136.00 price target on shares of Internationa Flavors & Fragrances in a report on Friday, July 21st. Finally, Zacks Investment Research raised Internationa Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $134.35.

In other news, EVP Francisco Fortanet sold 300 shares of Internationa Flavors & Fragrances stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $134.36, for a total transaction of $40,308.00. Following the sale, the executive vice president now directly owns 19,994 shares in the company, valued at approximately $2,686,393.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicolas Mirzayantz sold 1,233 shares of Internationa Flavors & Fragrances stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $133.76, for a total transaction of $164,926.08. Following the sale, the insider now owns 46,274 shares in the company, valued at $6,189,610.24. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 1,049,400 shares of company stock worth $140,816,873 and have sold 6,998 shares worth $962,952. 0.48% of the stock is currently owned by insiders.

Internationa Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.05. Internationa Flavors & Fragrances had a net margin of 12.31% and a return on equity of 26.83%. The business had revenue of $842.86 million for the quarter, compared to analyst estimates of $845.89 million. During the same period in the previous year, the business earned $1.47 EPS. The firm’s revenue was up 6.2% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Monday, September 25th were given a dividend of $0.69 per share. This is a positive change from Internationa Flavors & Fragrances’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, September 22nd. Internationa Flavors & Fragrances’s payout ratio is 55.76%.

Internationa Flavors & Fragrances Profile

International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.

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

Receive News & Ratings for Internationa Flavors & Fragrances Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Internationa Flavors & Fragrances Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply