Kovitz Investment Group Partners LLC Has $1.27 Million Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Kovitz Investment Group Partners LLC boosted its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 59.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,093 shares of the specialty chemicals company’s stock after acquiring an additional 4,519 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in International Flavors & Fragrances were worth $1,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IFF. Northwest Investment Counselors LLC purchased a new position in International Flavors & Fragrances during the third quarter valued at approximately $27,000. Point72 Hong Kong Ltd purchased a new stake in shares of International Flavors & Fragrances during the third quarter worth $42,000. Family Firm Inc. acquired a new stake in International Flavors & Fragrances during the second quarter valued at $38,000. Oakworth Capital Inc. acquired a new position in International Flavors & Fragrances in the 3rd quarter worth about $44,000. Finally, Eastern Bank purchased a new stake in shares of International Flavors & Fragrances during the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insiders Place Their Bets

In related news, insider Yuvraj Arora sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $91.75, for a total value of $458,750.00. Following the sale, the insider now owns 3,238 shares of the company’s stock, valued at $297,086.50. The trade was a 60.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

IFF has been the subject of several recent research reports. Bank of America raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 price target for the company in a research note on Friday, November 8th. UBS Group raised their price target on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Mizuho raised shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Morgan Stanley raised International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $111.00 to $110.00 in a research report on Tuesday, November 12th. Finally, Vertical Research raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and an average target price of $111.00.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock opened at $88.58 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 1.93. The company has a market cap of $22.65 billion, a PE ratio of -9.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. The firm has a fifty day moving average price of $96.01 and a two-hundred day moving average price of $97.78. International Flavors & Fragrances Inc. has a fifty-two week low of $72.94 and a fifty-two week high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46). International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.83 billion. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. Analysts expect that International Flavors & Fragrances Inc. will post 4.16 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a $0.40 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.81%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -17.60%.

International Flavors & Fragrances Company Profile

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.