Goldman Sachs Group Inc. Raises Holdings in International Flavors & Fragrances Inc. $IFF

Goldman Sachs Group Inc. increased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 23.2% in the 4th quarter, HoldingsChannel reports. The fund owned 1,741,248 shares of the specialty chemicals company’s stock after purchasing an additional 328,202 shares during the quarter. Goldman Sachs Group Inc.’s holdings in International Flavors & Fragrances were worth $117,343,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. DNB Asset Management AS grew its position in International Flavors & Fragrances by 0.3% in the fourth quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock worth $3,622,000 after acquiring an additional 139 shares during the period. Rafferty Asset Management LLC grew its position in International Flavors & Fragrances by 0.7% in the third quarter. Rafferty Asset Management LLC now owns 21,837 shares of the specialty chemicals company’s stock worth $1,344,000 after acquiring an additional 158 shares during the period. Clearstead Advisors LLC grew its position in International Flavors & Fragrances by 6.1% in the third quarter. Clearstead Advisors LLC now owns 3,021 shares of the specialty chemicals company’s stock worth $186,000 after acquiring an additional 173 shares during the period. Parr Mcknight Wealth Management Group LLC grew its position in International Flavors & Fragrances by 0.9% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 23,129 shares of the specialty chemicals company’s stock worth $1,423,000 after acquiring an additional 199 shares during the period. Finally, State of Michigan Retirement System grew its position in International Flavors & Fragrances by 0.3% in the fourth quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock worth $4,685,000 after acquiring an additional 200 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Paul J. Fribourg bought 260,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the purchase, the director directly owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. This trade represents a 10.73% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders acquired 415,500 shares of company stock worth $30,276,875. Insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

IFF has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Berenberg Bank raised their price target on International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Oppenheimer raised their price target on International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lowered their price target on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, Rothschild & Co Redburn lowered their price target on International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.49.

International Flavors & Fragrances Trading Down 0.4%

IFF opened at $72.68 on Tuesday. The firm has a market cap of $18.56 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.69 and a beta of 0.94. The business has a fifty day simple moving average of $73.75 and a 200-day simple moving average of $72.08. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm posted $1.20 EPS. International Flavors & Fragrances’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts expect that International Flavors & Fragrances Inc. will post 4.56 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances’s payout ratio is presently 48.93%.

International Flavors & Fragrances Company Profile

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.