Allspring Global Investments Holdings LLC Grows Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Allspring Global Investments Holdings LLC boosted its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,265 shares of the specialty chemicals company’s stock after acquiring an additional 8,490 shares during the period. Allspring Global Investments Holdings LLC’s holdings in International Flavors & Fragrances were worth $6,525,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $32,000. Fairway Wealth LLC purchased a new stake in shares of International Flavors & Fragrances in the 4th quarter worth approximately $34,000. Rialto Wealth Management LLC bought a new position in International Flavors & Fragrances during the 4th quarter valued at approximately $42,000. United Community Bank boosted its holdings in International Flavors & Fragrances by 19.4% in the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 150 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of International Flavors & Fragrances in the fourth quarter worth $78,000. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

IFF stock opened at $76.33 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 1.39. International Flavors & Fragrances Inc. has a 1 year low of $65.85 and a 1 year high of $106.77. The company has a market cap of $19.52 billion, a P/E ratio of -23.34, a price-to-earnings-growth ratio of 3.39 and a beta of 1.04. The stock’s fifty day moving average price is $76.23 and its 200-day moving average price is $79.23.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.08. International Flavors & Fragrances had a positive return on equity of 7.99% and a negative net margin of 7.31%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the firm posted $1.13 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, June 20th. International Flavors & Fragrances’s dividend payout ratio is presently -48.93%.

Insider Activity

In related news, Director Kevin O’byrne bought 4,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $76.05 per share, for a total transaction of $342,225.00. Following the completion of the transaction, the director owned 7,696 shares of the company’s stock, valued at approximately $585,280.80. This trade represents a 140.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mehmood Khan purchased 4,000 shares of International Flavors & Fragrances stock in a transaction on Thursday, May 15th. The stock was bought at an average price of $75.33 per share, with a total value of $301,320.00. Following the transaction, the director owned 4,604 shares of the company’s stock, valued at approximately $346,819.32. This represents a 662.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 22,050 shares of company stock worth $1,688,512. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

IFF has been the subject of several recent analyst reports. Robert W. Baird lowered their price target on International Flavors & Fragrances from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Stifel Nicolaus dropped their target price on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Oppenheimer cut their price target on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Barclays upgraded shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. Finally, Wells Fargo & Company reduced their target price on International Flavors & Fragrances from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.43.

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.