Bridgefront Capital LLC Acquires New Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Bridgefront Capital LLC bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,260 shares of the specialty chemicals company's stock, valued at approximately $698,000.

Other hedge funds have also made changes to their positions in the company. Dodge & Cox raised its stake in International Flavors & Fragrances by 11.9% during the 4th quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock valued at $2,658,063,000 after purchasing an additional 3,355,381 shares during the period. Vanguard Group Inc. lifted its stake in International Flavors & Fragrances by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 30,218,759 shares of the specialty chemicals company's stock worth $2,554,996,000 after acquiring an additional 164,945 shares in the last quarter. Geode Capital Management LLC boosted its position in International Flavors & Fragrances by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,166,778 shares of the specialty chemicals company's stock worth $520,032,000 after acquiring an additional 157,948 shares during the period. Van ECK Associates Corp increased its holdings in shares of International Flavors & Fragrances by 41.6% in the 4th quarter. Van ECK Associates Corp now owns 5,664,250 shares of the specialty chemicals company's stock valued at $478,912,000 after purchasing an additional 1,663,629 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of International Flavors & Fragrances by 25.7% in the fourth quarter. Nordea Investment Management AB now owns 5,489,741 shares of the specialty chemicals company's stock worth $464,926,000 after purchasing an additional 1,121,414 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Citigroup raised their price target on International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday. Stifel Nicolaus lowered their price target on International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Oppenheimer reduced their price target on International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $92.69.

Insider Buying and Selling

In other International Flavors & Fragrances news, CEO J Erik Fyrwald bought 700 shares of the business's stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $74.00 per share, for a total transaction of $51,800.00. Following the transaction, the chief executive officer now owns 37,770 shares in the company, valued at approximately $2,794,980. This trade represents a 1.89 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin O'byrne acquired 6,500 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $80.44 per share, with a total value of $522,860.00. Following the acquisition, the director now directly owns 6,500 shares of the company's stock, valued at $522,860. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Stock Performance

IFF traded down $0.62 during trading on Friday, reaching $73.46. 1,850,232 shares of the company's stock were exchanged, compared to its average volume of 1,519,632. International Flavors & Fragrances Inc. has a fifty-two week low of $65.85 and a fifty-two week high of $106.77. The company has a market capitalization of $18.79 billion, a P/E ratio of 78.15, a PEG ratio of 1.45 and a beta of 1.08. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $76.39 and a 200 day moving average price of $83.55.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.08. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. During the same quarter in the prior year, the business posted $1.13 earnings per share. The company's quarterly revenue was down 1.9% compared to the same quarter last year. As a group, analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. International Flavors & Fragrances's dividend payout ratio is presently -48.93%.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division.