International Flavors & Fragrances Inc. $IFF Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 585.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 997,638 shares of the specialty chemicals company’s stock after acquiring an additional 851,992 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in International Flavors & Fragrances were worth $72,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lloyd Advisory Services LLC. bought a new stake in International Flavors & Fragrances during the fourth quarter valued at $27,000. Root Financial Partners LLC boosted its holdings in shares of International Flavors & Fragrances by 97.9% in the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 274 shares during the period. Geneos Wealth Management Inc. boosted its holdings 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 valued at $46,000 after buying an additional 210 shares during the period. Transamerica Financial Advisors LLC grew its position in shares of International Flavors & Fragrances by 884.1% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 610 shares during the last quarter. Finally, Cromwell Holdings LLC raised its stake in International Flavors & Fragrances by 69.6% during the fourth quarter. Cromwell Holdings LLC now owns 894 shares of the specialty chemicals company’s stock worth $61,000 after acquiring an additional 367 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Insider Activity

In related news, Director Paul J. Fribourg acquired 260,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the transaction, the director owned 2,682,730 shares of the company’s stock, valued at approximately $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Trading Up 0.5%

Shares of IFF stock opened at $79.65 on Thursday. The stock has a 50-day simple moving average of $76.85 and a 200 day simple moving average of $74.89. The stock has a market capitalization of $20.33 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.98 and a beta of 0.93. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is currently 48.93%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IFF. Barclays lifted their target price on International Flavors & Fragrances from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. BNP Paribas Exane boosted their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Citigroup lowered their price objective on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Argus increased their target price on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Berenberg Bank increased their price objective on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.16.

International Flavors & Fragrances Profile

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.