Zurich Insurance Group Ltd FI Invests $19.81 Million in International Flavors & Fragrances Inc. (NYSE:IFF)

Zurich Insurance Group Ltd FI purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 188,821 shares of the specialty chemicals company’s stock, valued at approximately $19,813,000. Zurich Insurance Group Ltd FI owned about 0.07% of International Flavors & Fragrances as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of International Flavors & Fragrances during the third quarter worth approximately $27,000. Point72 Hong Kong Ltd acquired a new position in International Flavors & Fragrances during the 3rd quarter worth $42,000. Family Firm Inc. bought a new stake in shares of International Flavors & Fragrances in the 2nd quarter worth about $38,000. Oakworth Capital Inc. bought a new position in shares of International Flavors & Fragrances during the third quarter worth about $44,000. Finally, Eastern Bank acquired a new position in International Flavors & Fragrances in the third quarter worth about $46,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Yuvraj Arora sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $91.75, for a total transaction of $458,750.00. Following the completion of the sale, the insider now owns 3,238 shares in the company, valued at approximately $297,086.50. This represents a 60.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on IFF shares. Bank of America raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Friday, November 8th. Oppenheimer lifted their price objective on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. UBS Group increased their target price on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Morgan Stanley raised shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $111.00 to $110.00 in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.00.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $88.92 on Friday. International Flavors & Fragrances Inc. has a 52-week low of $72.94 and a 52-week high of $106.77. The firm has a market capitalization of $22.74 billion, a PE ratio of -9.78, a P/E/G ratio of 1.58 and a beta of 1.17. The firm has a 50-day moving average price of $96.62 and a 200 day moving average price of $97.86. The company has a quick ratio of 1.93, a current ratio of 2.62 and a debt-to-equity ratio of 0.58.

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

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, December 20th. International Flavors & Fragrances’s payout ratio is -17.60%.

International Flavors & Fragrances 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.