Rockefeller Capital Management L.P. Raises Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Rockefeller Capital Management L.P. lifted its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 37.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,375 shares of the specialty chemicals company’s stock after buying an additional 1,723 shares during the period. Rockefeller Capital Management L.P.’s holdings in International Flavors & Fragrances were worth $952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in International Flavors & Fragrances by 140.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,358 shares of the specialty chemicals company’s stock valued at $2,004,000 after purchasing an additional 8,377 shares during the last quarter. NFC Investments LLC purchased a new position in International Flavors & Fragrances in the first quarter valued at about $1,966,000. Nomura Asset Management Co. Ltd. boosted its holdings in International Flavors & Fragrances by 14.5% in the second quarter. Nomura Asset Management Co. Ltd. now owns 47,260 shares of the specialty chemicals company’s stock valued at $7,061,000 after purchasing an additional 5,979 shares during the last quarter. 40 North Management LLC purchased a new position in International Flavors & Fragrances in the first quarter valued at about $189,870,000. Finally, Baupost Group LLC MA purchased a new position in International Flavors & Fragrances in the first quarter valued at about $293,181,000. 90.85% of the stock is owned by hedge funds and other institutional investors.

Shares of International Flavors & Fragrances stock opened at $134.97 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $148.91 and its 200-day simple moving average is $144.76. The stock has a market capitalization of $33.62 billion, a price-to-earnings ratio of 110.63, a PEG ratio of 2.37 and a beta of 0.96. International Flavors & Fragrances Inc. has a twelve month low of $99.54 and a twelve month high of $157.08.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Thursday, August 5th. The specialty chemicals company reported $1.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.50. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.99 billion. International Flavors & Fragrances had a return on equity of 7.32% and a net margin of 1.71%. Sell-side analysts predict that International Flavors & Fragrances Inc. will post 5.94 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 5th. Stockholders of record on Friday, September 24th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from International Flavors & Fragrances’s previous quarterly dividend of $0.77. The ex-dividend date is Thursday, September 23rd. International Flavors & Fragrances’s dividend payout ratio is presently 54.04%.

A number of research analysts recently commented on IFF shares. Redburn Partners started coverage on International Flavors & Fragrances in a report on Tuesday, July 20th. They issued a “buy” rating and a $140.11 price target for the company. Wells Fargo & Company reduced their target price on International Flavors & Fragrances from $170.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $148.65.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products. It operates through the following segments: Taste and Scent. The Taste segment is sold to the food and beverage industries for use in consumer products such as prepared foods, beverages, dairy, food, and sweet products.

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

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