Covea Finance Takes $7.21 Million Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Covea Finance purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 68,750 shares of the specialty chemicals company’s stock, valued at approximately $7,214,000.

Several other hedge funds have also made changes to their positions in IFF. Riverview Trust Co purchased a new stake in shares of International Flavors & Fragrances in the 1st quarter valued at approximately $27,000. Quent Capital LLC boosted its position in shares of International Flavors & Fragrances by 183.2% during the 1st quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 240 shares during the period. Family Firm Inc. purchased a new position in shares of International Flavors & Fragrances during the 2nd quarter worth approximately $38,000. Fidelis Capital Partners LLC purchased a new position in shares of International Flavors & Fragrances during the 1st quarter worth approximately $44,000. Finally, Larson Financial Group LLC boosted its position in shares of International Flavors & Fragrances by 5,050.0% during the 1st quarter. Larson Financial Group LLC now owns 515 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 505 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Up 0.0 %

NYSE:IFF traded up $0.03 during midday trading on Friday, hitting $102.66. 724,619 shares of the company were exchanged, compared to its average volume of 1,695,122. The company has a fifty day simple moving average of $101.33 and a 200 day simple moving average of $95.85. International Flavors & Fragrances Inc. has a fifty-two week low of $63.21 and a fifty-two week high of $105.96. The company has a current ratio of 2.38, a quick ratio of 1.75 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $26.25 billion, a PE ratio of -11.14, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business earned $0.86 EPS. International Flavors & Fragrances’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, September 20th. International Flavors & Fragrances’s payout ratio is currently -17.35%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IFF shares. UBS Group lowered their price objective on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Stifel Nicolaus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $115.00 in a report on Monday, July 22nd. Oppenheimer increased their target price on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Morgan Stanley increased their target price on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, International Flavors & Fragrances presently has an average rating of “Hold” and a consensus price target of $104.27.

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 the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.