The Spectrum Management Group Inc. Acquires Shares of 7,540 International Flavors & Fragrances Inc. (IFF)

The Spectrum Management Group Inc. Acquires Shares of 7,540 International Flavors & Fragrances Inc. (IFF)

Spectrum Management Group Inc. bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,540 shares of the company’s stock, valued at approximately $951,000.

A number of other hedge funds have also made changes to their positions in IFF. Quadrant Capital Group LLC boosted its stake in shares of International Flavors & Fragrances by 0.5% in the second quarter. Quadrant Capital Group LLC now owns 874 shares of the company’s stock worth $110,000 after buying an additional 4 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth approximately $171,000. Creative Planning boosted its stake in shares of International Flavors & Fragrances by 2.8% in the second quarter. Creative Planning now owns 1,383 shares of the company’s stock worth $174,000 after buying an additional 38 shares in the last quarter. Pennsylvania Trust Co acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth approximately $220,000. Finally, CIBC World Markets Inc. acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth approximately $345,000. 81.17% of the stock is owned by institutional investors and hedge funds.

Shares of International Flavors & Fragrances Inc. (NYSE:IFF) traded down 0.69% during trading on Friday, hitting $129.31. 451,821 shares of the company were exchanged. The firm’s 50-day moving average price is $138.10 and its 200 day moving average price is $129.57. International Flavors & Fragrances Inc. has a 12 month low of $97.24 and a 12 month high of $143.64. The firm has a market capitalization of $10.29 billion, a PE ratio of 24.74 and a beta of 1.03.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Monday, August 8th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.07. The company earned $793.48 million during the quarter, compared to analysts’ expectations of $785.60 million. International Flavors & Fragrances had a net margin of 13.52% and a return on equity of 26.66%. International Flavors & Fragrances’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. On average, equities research analysts expect that International Flavors & Fragrances Inc. will post $5.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Monday, September 26th were given a dividend of $0.64 per share. The ex-dividend date was Thursday, September 22nd. This is a positive change from International Flavors & Fragrances’s previous quarterly dividend of $0.56. This represents a $2.56 dividend on an annualized basis and a yield of 1.98%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 49.90%.

A number of analysts have commented on the stock. Zacks Investment Research raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $141.00 target price for the company in a report on Tuesday, July 5th. Argus upped their target price on shares of International Flavors & Fragrances from $146.00 to $156.00 and gave the company a “buy” rating in a report on Tuesday, August 16th. Gabelli cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $153.00 target price on shares of International Flavors & Fragrances in a report on Sunday, August 14th. Finally, Sanford C. Bernstein initiated coverage on shares of International Flavors & Fragrances in a research report on Monday, September 19th. They issued an “outperform” rating and a $160.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $149.68.

In other International Flavors & Fragrances news, insider Nicolas Mirzayantz sold 3,881 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $135.84, for a total transaction of $527,195.04. Following the completion of the transaction, the insider now directly owns 60,016 shares of the company’s stock, valued at approximately $8,152,573.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (IFF) creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) for the food, beverage, personal care and household products industries either in the form of compounds or individual ingredients. The Company operates in two segments: Flavors and Fragrances.

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