International Flavors & Fragrances Inc (NYSE:IFF) Stake Increased by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in International Flavors & Fragrances Inc (NYSE:IFF) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,888 shares of the specialty chemicals company’s stock after purchasing an additional 1,117 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in International Flavors & Fragrances were worth $6,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of IFF. JOYN Advisors Inc. raised its position in International Flavors & Fragrances by 65.5% in the 4th quarter. JOYN Advisors Inc. now owns 187 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 74 shares during the period. Massey Quick Simon & CO. LLC purchased a new position in shares of International Flavors & Fragrances in the fourth quarter valued at about $27,000. Fort L.P. increased its position in shares of International Flavors & Fragrances by 365.3% in the fourth quarter. Fort L.P. now owns 228 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 179 shares during the period. Penserra Capital Management LLC purchased a new position in shares of International Flavors & Fragrances in the fourth quarter valued at about $37,000. Finally, Kaizen Advisory LLC increased its position in shares of International Flavors & Fragrances by 50.3% in the fourth quarter. Kaizen Advisory LLC now owns 272 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 91 shares during the period. Institutional investors own 83.63% of the company’s stock.

Shares of IFF traded up $1.10 during mid-day trading on Wednesday, hitting $135.90. 521,200 shares of the company traded hands, compared to its average volume of 938,026. International Flavors & Fragrances Inc has a 1 year low of $121.85 and a 1 year high of $150.57. The stock has a market capitalization of $14.58 billion, a price-to-earnings ratio of 21.64 and a beta of 0.77. The company has a quick ratio of 1.58, a current ratio of 2.56 and a debt-to-equity ratio of 0.72.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Monday, May 6th. The specialty chemicals company reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.05. International Flavors & Fragrances had a net margin of 7.29% and a return on equity of 12.74%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $1.79 earnings per share. The firm’s revenue was up 39.4% on a year-over-year basis. As a group, analysts expect that International Flavors & Fragrances Inc will post 6.31 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 24th will be issued a dividend of $0.73 per share. The ex-dividend date is Friday, June 21st. This represents a $2.92 dividend on an annualized basis and a yield of 2.15%. International Flavors & Fragrances’s dividend payout ratio is currently 46.50%.

A number of equities analysts have issued reports on IFF shares. Goldman Sachs Group upgraded shares of International Flavors & Fragrances from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $137.00 to $151.00 in a research report on Thursday, March 21st. Citigroup cut their target price on shares of International Flavors & Fragrances from $146.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, February 21st. Zacks Investment Research lowered shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. Barclays reaffirmed a “sell” rating on shares of International Flavors & Fragrances in a research note on Monday, February 18th. Finally, Seaport Global Securities started coverage on shares of International Flavors & Fragrances in a research note on Thursday, February 21st. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. International Flavors & Fragrances has an average rating of “Hold” and a consensus price target of $148.25.

In other news, major shareholder Winder Investment Pte Ltd acquired 29,642 shares of International Flavors & Fragrances stock in a transaction dated Thursday, February 21st. The stock was purchased at an average cost of $128.74 per share, with a total value of $3,816,111.08. Following the completion of the purchase, the insider now directly owns 20,300,000 shares in the company, valued at approximately $2,613,422,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicolas Mirzayantz sold 3,472 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $136.73, for a total transaction of $474,726.56. Following the completion of the sale, the insider now directly owns 45,858 shares of the company’s stock, valued at $6,270,164.34. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

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International Flavors & Fragrances Profile

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.

Further Reading: Systematic Risk and Investors

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

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