NJ State Employees Deferred Compensation Plan Invests $214,000 in International Flavors & Fragrances Inc. (NYSE:IFF)

NJ State Employees Deferred Compensation Plan purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,640 shares of the specialty chemicals company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of International Flavors & Fragrances by 195.8% during the 3rd quarter. CWM LLC now owns 4,972 shares of the specialty chemicals company’s stock valued at $339,000 after acquiring an additional 3,291 shares during the last quarter. HB Wealth Management LLC acquired a new stake in International Flavors & Fragrances in the 3rd quarter valued at approximately $247,000. DAVENPORT & Co LLC grew its holdings in International Flavors & Fragrances by 13.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 6,943 shares of the specialty chemicals company’s stock valued at $473,000 after buying an additional 809 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in International Flavors & Fragrances by 6.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 82,790 shares of the specialty chemicals company’s stock valued at $5,644,000 after buying an additional 5,224 shares during the last quarter. Finally, Oak Thistle LLC grew its holdings in International Flavors & Fragrances by 14.8% in the 3rd quarter. Oak Thistle LLC now owns 4,340 shares of the specialty chemicals company’s stock valued at $296,000 after buying an additional 561 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IFF has been the subject of several analyst reports. Robert W. Baird raised their target price on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Wolfe Research assumed coverage on International Flavors & Fragrances in a research note on Friday, March 1st. They issued an “underperform” rating for the company. Citigroup raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and boosted their target price for the company from $81.00 to $100.00 in a research note on Wednesday, April 10th. StockNews.com raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Finally, UBS Group boosted their price target on International Flavors & Fragrances from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.35.

International Flavors & Fragrances Stock Performance

Shares of International Flavors & Fragrances stock traded up $0.27 on Friday, hitting $84.61. The stock had a trading volume of 879,775 shares, compared to its average volume of 2,105,808. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of -8.40, a price-to-earnings-growth ratio of 1.90 and a beta of 1.23. International Flavors & Fragrances Inc. has a twelve month low of $62.11 and a twelve month high of $97.49. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $81.99 and its two-hundred day moving average is $77.93.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. Analysts forecast that International Flavors & Fragrances Inc. will post 3.69 EPS for the current year.

International Flavors & Fragrances Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, March 21st. International Flavors & Fragrances’s dividend payout ratio is presently -15.94%.

International Flavors & Fragrances Company 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.