Assenagon Asset Management S.A. Sells 96,110 Shares of International Flavors & Fragrances Inc. $IFF

Assenagon Asset Management S.A. lowered its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 91.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,192 shares of the specialty chemicals company’s stock after selling 96,110 shares during the quarter. Assenagon Asset Management S.A.’s holdings in International Flavors & Fragrances were worth $667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Krilogy Financial LLC raised its position in shares of International Flavors & Fragrances by 25.1% in the first quarter. Krilogy Financial LLC now owns 13,710 shares of the specialty chemicals company’s stock valued at $988,000 after buying an additional 2,753 shares in the last quarter. A. D. Beadell Investment Counsel Inc. bought a new position in International Flavors & Fragrances during the 1st quarter worth $1,082,000. SG Americas Securities LLC raised its holdings in International Flavors & Fragrances by 62.2% in the 1st quarter. SG Americas Securities LLC now owns 226,822 shares of the specialty chemicals company’s stock valued at $16,456,000 after acquiring an additional 86,963 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of International Flavors & Fragrances by 38.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 784,570 shares of the specialty chemicals company’s stock valued at $56,921,000 after acquiring an additional 218,420 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of International Flavors & Fragrances by 0.7% during the 4th quarter. Hsbc Holdings PLC now owns 454,157 shares of the specialty chemicals company’s stock worth $30,633,000 after purchasing an additional 2,999 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BNP Paribas Exane boosted their price target on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. UBS Group increased their price objective on shares of International Flavors & Fragrances from $75.00 to $86.00 in a research note on Thursday, May 7th. Berenberg Bank raised their target price on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group lifted their price objective on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.16.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg acquired 260,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the acquisition, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.07% of the stock is currently owned by company insiders.

International Flavors & Fragrances Stock Up 3.0%

IFF stock opened at $83.62 on Friday. The firm has a 50-day moving average price of $75.47 and a 200-day moving average price of $73.39. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $84.45. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $21.35 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. As a group, equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.55 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, June 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances’s dividend payout ratio is presently 48.93%.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.