Principal Financial Group Inc. Buys 11,172 Shares of International Flavors & Fragrances Inc (IFF)

Principal Financial Group Inc. increased its position in shares of International Flavors & Fragrances Inc (NYSE:IFF) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,181 shares of the specialty chemicals company’s stock after acquiring an additional 11,172 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of International Flavors & Fragrances worth $20,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of IFF. Boston Family Office LLC boosted its position in International Flavors & Fragrances by 0.4% during the 4th quarter. Boston Family Office LLC now owns 19,593 shares of the specialty chemicals company’s stock valued at $2,631,000 after buying an additional 69 shares during the period. JOYN Advisors Inc. boosted its position in International Flavors & Fragrances by 65.5% during the 4th quarter. JOYN Advisors Inc. now owns 187 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 74 shares during the period. IBM Retirement Fund boosted its position in International Flavors & Fragrances by 6.8% during the 4th quarter. IBM Retirement Fund now owns 1,545 shares of the specialty chemicals company’s stock valued at $207,000 after buying an additional 98 shares during the period. First Manhattan Co. boosted its position in International Flavors & Fragrances by 14.3% during the 4th quarter. First Manhattan Co. now owns 800 shares of the specialty chemicals company’s stock valued at $107,000 after buying an additional 100 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in International Flavors & Fragrances by 1.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,568 shares of the specialty chemicals company’s stock worth $1,016,000 after purchasing an additional 103 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a report on Wednesday. Goldman Sachs Group upgraded shares of International Flavors & Fragrances from a “neutral” rating to a “buy” rating and increased their price target for the stock from $137.00 to $151.00 in a research note on Thursday, March 21st. KeyCorp decreased their price target on shares of International Flavors & Fragrances from $160.00 to $143.00 and set an “overweight” rating for the company in a research note on Monday, February 25th. Seaport Global Securities started coverage on shares of International Flavors & Fragrances in a research note on Thursday, February 21st. They set a “neutral” rating for the company. Finally, Citigroup reduced their price objective on shares of International Flavors & Fragrances from $146.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, February 21st. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. International Flavors & Fragrances currently has a consensus rating of “Hold” and an average target price of $144.33.

Shares of NYSE IFF traded up $1.04 during trading on Friday, reaching $136.00. 890,767 shares of the company traded hands, compared to its average volume of 973,382. The company has a quick ratio of 1.65, a current ratio of 2.61 and a debt-to-equity ratio of 0.75. The company has a market cap of $14.50 billion, a PE ratio of 21.66, a PEG ratio of 2.38 and a beta of 0.75. International Flavors & Fragrances Inc has a 52-week low of $121.85 and a 52-week high of $150.57.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Wednesday, February 13th. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. International Flavors & Fragrances had a net margin of 8.48% and a return on equity of 15.56%. The business’s revenue was up 42.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. As a group, equities research analysts anticipate that International Flavors & Fragrances Inc will post 6.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Monday, March 25th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, March 22nd. International Flavors & Fragrances’s payout ratio is 46.50%.

In other news, major shareholder Winder Investment Pte Ltd purchased 85,946 shares of the stock in a transaction on Thursday, February 14th. The shares were acquired at an average price of $132.28 per share, with a total value of $11,368,936.88. Following the completion of the acquisition, the insider now directly owns 20,007,252 shares of the company’s stock, valued at $2,646,559,294.56. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have acquired 165,588 shares of company stock worth $21,637,048 in the last ninety days. Insiders own 0.39% of the company’s stock.

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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.

Further Reading: Hedge Funds Explained

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

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