Pendal Group Ltd Takes Position in International Flavors & Fragrances Inc (NYSE:IFF)

Pendal Group Ltd acquired a new stake in shares of International Flavors & Fragrances Inc (NYSE:IFF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,336 shares of the specialty chemicals company’s stock, valued at approximately $872,000.

Several other large investors also recently made changes to their positions in the company. Winder Investment Pte Ltd lifted its position in shares of International Flavors & Fragrances by 3.9% during the 1st quarter. Winder Investment Pte Ltd now owns 20,300,000 shares of the specialty chemicals company’s stock valued at $2,614,437,000 after acquiring an additional 763,142 shares during the last quarter. BlackRock Inc. lifted its position in shares of International Flavors & Fragrances by 3.7% during the 1st quarter. BlackRock Inc. now owns 7,047,059 shares of the specialty chemicals company’s stock valued at $907,591,000 after acquiring an additional 252,241 shares during the last quarter. Swedbank lifted its position in shares of International Flavors & Fragrances by 11.8% during the 2nd quarter. Swedbank now owns 1,403,192 shares of the specialty chemicals company’s stock valued at $203,589,000 after acquiring an additional 148,419 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of International Flavors & Fragrances by 11.1% during the 4th quarter. Geode Capital Management LLC now owns 1,305,387 shares of the specialty chemicals company’s stock valued at $174,980,000 after acquiring an additional 130,842 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of International Flavors & Fragrances by 26.9% during the 1st quarter. Nordea Investment Management AB now owns 1,073,179 shares of the specialty chemicals company’s stock valued at $138,217,000 after acquiring an additional 227,602 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

Shares of IFF traded up $2.33 during mid-day trading on Friday, reaching $112.94. The company’s stock had a trading volume of 18,561 shares, compared to its average volume of 1,352,572. The business has a fifty day moving average of $139.12 and a 200 day moving average of $136.35. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 17.81 and a beta of 0.75. International Flavors & Fragrances Inc has a 1 year low of $109.63 and a 1 year high of $152.95. The company has a quick ratio of 1.59, a current ratio of 2.60 and a debt-to-equity ratio of 0.71.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Monday, August 5th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.61. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. International Flavors & Fragrances had a return on equity of 10.48% and a net margin of 7.51%. The company’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 earnings per share. On average, analysts predict that International Flavors & Fragrances Inc will post 6.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 23rd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.66%. This is a positive change from International Flavors & Fragrances’s previous quarterly dividend of $0.73. The ex-dividend date is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 46.50%.

In related news, insider Nicolas Mirzayantz sold 928 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $144.69, for a total transaction of $134,272.32. Following the completion of the sale, the insider now directly owns 36,322 shares in the company, valued at $5,255,430.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 7,036 shares of company stock valued at $1,021,388. 0.39% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on the company. ValuEngine downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. UBS Group increased their price objective on International Flavors & Fragrances from $168.00 to $172.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. upgraded International Flavors & Fragrances from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $127.00 to $125.00 in a report on Wednesday, August 7th. KeyCorp reduced their target price on International Flavors & Fragrances from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Zacks Investment Research upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating and set a $151.00 target price for the company in a report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $143.00.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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

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