GAM Holding AG Boosts Holdings in International Flavors & Fragrances Inc (NYSE:IFF)

GAM Holding AG grew its position in International Flavors & Fragrances Inc (NYSE:IFF) by 58.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,302 shares of the specialty chemicals company’s stock after buying an additional 4,891 shares during the quarter. GAM Holding AG’s holdings in International Flavors & Fragrances were worth $1,713,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IFF. Principal Financial Group Inc. grew its holdings in International Flavors & Fragrances by 8.0% during the 4th quarter. Principal Financial Group Inc. now owns 150,181 shares of the specialty chemicals company’s stock worth $20,165,000 after acquiring an additional 11,172 shares during the last quarter. Psagot Investment House Ltd. grew its holdings in International Flavors & Fragrances by 108.8% during the 4th quarter. Psagot Investment House Ltd. now owns 2,495 shares of the specialty chemicals company’s stock worth $335,000 after acquiring an additional 1,300 shares during the last quarter. American International Group Inc. grew its holdings in International Flavors & Fragrances by 34.4% during the 4th quarter. American International Group Inc. now owns 44,668 shares of the specialty chemicals company’s stock worth $5,998,000 after acquiring an additional 11,425 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in International Flavors & Fragrances by 42.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 80,963 shares of the specialty chemicals company’s stock worth $10,404,000 after acquiring an additional 24,014 shares during the last quarter. Finally, FMR LLC grew its holdings in International Flavors & Fragrances by 32.4% during the 4th quarter. FMR LLC now owns 3,032,597 shares of the specialty chemicals company’s stock worth $406,944,000 after acquiring an additional 741,633 shares during the last quarter. Institutional investors and hedge funds own 88.18% of the company’s stock.

A number of research firms have recently commented on IFF. Exane BNP Paribas lowered shares of International Flavors & Fragrances to an “underperform” rating in a research note on Friday, June 21st. BNP Paribas lowered shares of International Flavors & Fragrances from a “neutral” rating to an “underperform” rating in a research note on Friday, June 21st. KeyCorp upped their price objective on shares of International Flavors & Fragrances from $143.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, June 7th. ValuEngine raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Finally, Zacks Investment Research lowered shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. International Flavors & Fragrances has an average rating of “Hold” and a consensus price target of $150.25.

IFF traded up $1.52 during trading on Friday, hitting $145.09. 1,904,400 shares of the company’s stock were exchanged, compared to its average volume of 1,057,244. The company has a current ratio of 2.56, a quick ratio of 1.58 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average price is $141.71. International Flavors & Fragrances Inc has a fifty-two week low of $121.85 and a fifty-two week high of $152.95. The company has a market cap of $15.32 billion, a PE ratio of 23.10 and a beta of 0.74.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.05. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. International Flavors & Fragrances had a net margin of 7.29% and a return on equity of 12.74%. The business’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.79 earnings per share. As a group, research analysts expect that International Flavors & Fragrances Inc will post 6.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 24th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.92 annualized dividend and a dividend yield of 2.01%. International Flavors & Fragrances’s dividend payout ratio is currently 46.50%.

In other news, insider Nicolas Mirzayantz sold 3,472 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $136.73, for a total value of $474,726.56. Following the completion of the sale, the insider now owns 45,858 shares in the company, valued at $6,270,164.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 9,580 shares of company stock valued at $1,361,842. 0.39% of the stock is currently owned by corporate insiders.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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