Boston Family Office LLC reduced its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,820 shares of the specialty chemicals company’s stock after selling 2,405 shares during the quarter. Boston Family Office LLC’s holdings in International Flavors & Fragrances were worth $3,858,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of IFF. Price T Rowe Associates Inc. MD raised its stake in shares of International Flavors & Fragrances by 4,039.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,769,806 shares of the specialty chemicals company’s stock valued at $1,084,743,000 after purchasing an additional 7,582,117 shares in the last quarter. Sachem Head Capital Management LP acquired a new position in International Flavors & Fragrances during the first quarter worth about $908,783,000. Nuveen Asset Management LLC grew its holdings in International Flavors & Fragrances by 204.2% during the first quarter. Nuveen Asset Management LLC now owns 5,249,407 shares of the specialty chemicals company’s stock worth $732,869,000 after acquiring an additional 3,523,760 shares during the period. Point Break Capital Management LLC acquired a new position in International Flavors & Fragrances during the first quarter worth about $412,455,000. Finally, Laurion Capital Management LP grew its holdings in International Flavors & Fragrances by 404.8% during the first quarter. Laurion Capital Management LP now owns 3,584,872 shares of the specialty chemicals company’s stock worth $500,484,000 after acquiring an additional 2,874,758 shares during the period. Institutional investors and hedge funds own 90.85% of the company’s stock.
IFF traded up $0.98 during trading on Monday, reaching $133.62. The company had a trading volume of 15,041 shares, compared to its average volume of 2,803,605. The firm’s 50-day simple moving average is $147.97 and its 200 day simple moving average is $144.75. The company has a market cap of $33.28 billion, a price-to-earnings ratio of 108.25, a PEG ratio of 2.37 and a beta of 0.96. International Flavors & Fragrances Inc. has a 12-month low of $99.54 and a 12-month high of $157.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.19 and a current ratio of 1.95.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 5th. Shareholders of record on Friday, September 24th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.36%. The ex-dividend date is Thursday, September 23rd. This is a boost from International Flavors & Fragrances’s previous quarterly dividend of $0.77. International Flavors & Fragrances’s payout ratio is 55.44%.
A number of research analysts recently issued reports on the company. Redburn Partners assumed coverage on International Flavors & Fragrances in a report on Tuesday, July 20th. They set a “buy” rating and a $140.11 target price on the stock. Wells Fargo & Company lowered their target price on International Flavors & Fragrances from $170.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, September 20th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Buy” and an average price target of $148.65.
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. It operates through the following segments: Taste and Scent. The Taste segment is sold 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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