CIBC Asset Management Inc Grows Holdings in International Flavors & Fragrances Inc. $IFF

CIBC Asset Management Inc grew its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 70.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 60,229 shares of the specialty chemicals company’s stock after acquiring an additional 24,793 shares during the period. CIBC Asset Management Inc’s holdings in International Flavors & Fragrances were worth $4,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IFF. Lloyd Advisory Services LLC. purchased a new position in shares of International Flavors & Fragrances during the 4th quarter valued at approximately $27,000. Geneos Wealth Management Inc. grew its position in shares of International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in shares of International Flavors & Fragrances by 884.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 610 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of International Flavors & Fragrances by 42.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company’s stock worth $54,000 after acquiring an additional 239 shares in the last quarter. Finally, AlphaQuest LLC grew its position in shares of International Flavors & Fragrances by 1,190.0% in the 3rd quarter. AlphaQuest LLC now owns 903 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 833 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Trading Down 0.1%

NYSE:IFF opened at $73.18 on Friday. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $84.45. The firm has a market capitalization of $18.68 billion, a P/E ratio of 22.38, a P/E/G ratio of 1.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. The business has a 50 day simple moving average of $73.72 and a 200 day simple moving average of $71.99.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts predict that International Flavors & Fragrances Inc. will post 4.56 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 18th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. International Flavors & Fragrances’s payout ratio is currently 48.93%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IFF shares. Wells Fargo & Company lifted their target price on International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. UBS Group lifted their target price on International Flavors & Fragrances from $75.00 to $86.00 in a research report on Thursday, May 7th. Berenberg Bank lifted their target price on International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Citigroup lifted their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Oppenheimer lifted their target price on International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.49.

Insiders Place Their Bets

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 260,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the purchase, the director directly owned 2,682,730 shares of the company’s stock, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 415,500 shares of company stock worth $30,276,875. 1.07% of the stock is owned by insiders.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.