Westpac Banking Corp Increases Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Westpac Banking Corp grew its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 1,083.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,819 shares of the specialty chemicals company’s stock after purchasing an additional 42,864 shares during the period. Westpac Banking Corp’s holdings in International Flavors & Fragrances were worth $3,959,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in International Flavors & Fragrances during the 4th quarter worth approximately $32,000. Fairway Wealth LLC purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter worth $34,000. Point72 Hong Kong Ltd acquired a new stake in shares of International Flavors & Fragrances in the third quarter valued at $42,000. Rialto Wealth Management LLC purchased a new position in International Flavors & Fragrances in the fourth quarter valued at $42,000. Finally, Principal Securities Inc. grew its stake in International Flavors & Fragrances by 36.6% during the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IFF shares. Barclays decreased their price objective on International Flavors & Fragrances from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Argus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Stifel Nicolaus reduced their price objective on shares of International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Bank of America cut their price target on International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

Insider Activity at International Flavors & Fragrances

In other news, Director Kevin O’byrne bought 6,500 shares of International Flavors & Fragrances stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the purchase, the director now owns 6,500 shares of the company’s stock, valued at approximately $522,860. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

International Flavors & Fragrances Trading Up 1.6 %

NYSE:IFF opened at $78.66 on Thursday. The company has a market capitalization of $20.12 billion, a PE ratio of 83.68, a P/E/G ratio of 1.45 and a beta of 1.21. International Flavors & Fragrances Inc. has a 52-week low of $75.73 and a 52-week high of $106.77. The stock’s 50 day moving average price is $82.12 and its 200 day moving average price is $89.35. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.14. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. On average, research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, March 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 170.21%.

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 industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.