Argent Capital Management LLC Invests $19.39 Million in International Flavors & Fragrances Inc. $IFF

Argent Capital Management LLC bought a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) during the first quarter, HoldingsChannel reports. The firm bought 267,273 shares of the specialty chemicals company’s stock, valued at approximately $19,391,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. raised its stake in International Flavors & Fragrances by 131.3% during the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock valued at $441,068,000 after buying an additional 4,069,075 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of International Flavors & Fragrances in the 4th quarter worth approximately $211,703,000. Ameriprise Financial Inc. increased its holdings in shares of International Flavors & Fragrances by 1,842.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company’s stock valued at $183,264,000 after acquiring an additional 2,363,307 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of International Flavors & Fragrances by 27.5% in the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock valued at $595,166,000 after acquiring an additional 1,904,598 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at approximately $113,284,000. 96.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IFF shares. Weiss Ratings upgraded International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Citigroup dropped their target price on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Jefferies Financial Group boosted their price objective on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Finally, Rothschild & Co Redburn cut their target price on shares of International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.16.

International Flavors & Fragrances Trading Down 0.2%

Shares of IFF stock opened at $79.29 on Friday. International Flavors & Fragrances Inc. has a 1 year low of $59.14 and a 1 year high of $84.45. The firm has a market capitalization of $20.24 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.99 and a beta of 0.93. The stock has a fifty day moving average of $77.02 and a two-hundred day moving average of $74.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.64 billion. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s payout ratio is 48.93%.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg purchased 260,000 shares of International Flavors & Fragrances stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the purchase, the director owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.07% of the company’s stock.

About International Flavors & Fragrances

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.