Norges Bank Makes New Investment in International Flavors & Fragrances Inc. (NYSE:IFF)

Norges Bank bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 603,819 shares of the specialty chemicals company’s stock, valued at approximately $65,721,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. boosted its holdings in International Flavors & Fragrances by 12.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 634,500 shares of the specialty chemicals company’s stock valued at $69,059,000 after acquiring an additional 72,313 shares during the period. Perpetual Investment Management Limited bought a new stake in International Flavors & Fragrances in the 4th quarter valued at $4,685,000. RMR Wealth Builders acquired a new position in International Flavors & Fragrances in the 4th quarter valued at about $120,000. ZWJ Investment Counsel Inc. lifted its holdings in shares of International Flavors & Fragrances by 29.4% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 222,343 shares of the specialty chemicals company’s stock worth $24,200,000 after acquiring an additional 50,471 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in International Flavors & Fragrances by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 531,757 shares of the specialty chemicals company’s stock worth $57,891,000 after acquiring an additional 31,859 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

A number of research analysts have weighed in on IFF shares. Exane BNP Paribas raised shares of International Flavors & Fragrances from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 12th. Berenberg Bank raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and raised their price target for the company from $139.00 to $160.00 in a research report on Wednesday, March 31st. Zacks Investment Research raised shares of International Flavors & Fragrances from a “strong sell” rating to a “hold” rating and set a $120.00 price target on the stock in a research report on Wednesday, January 27th. Societe Generale raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and raised their price target for the company from $122.00 to $145.00 in a research report on Tuesday, January 12th. Finally, Morgan Stanley started coverage on shares of International Flavors & Fragrances in a report on Monday. They set an “overweight” rating and a $160.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $143.90.

NYSE:IFF opened at $140.79 on Wednesday. The firm has a market capitalization of $35.04 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 5.75 and a beta of 0.97. The stock has a 50 day moving average of $137.30 and a 200-day moving average of $121.52. International Flavors & Fragrances Inc. has a 52 week low of $99.54 and a 52 week high of $143.09. The company has a current ratio of 1.82, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Wednesday, February 10th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. International Flavors & Fragrances had a return on equity of 11.00% and a net margin of 7.44%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. As a group, analysts predict that International Flavors & Fragrances Inc. will post 5.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 6th. Stockholders of record on Friday, March 26th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.19%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 49.92%.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.

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

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