DoubleLine ETF Adviser LP Makes New Investment in International Flavors & Fragrances Inc. (NYSE:IFF)

DoubleLine ETF Adviser LP purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 28,781 shares of the specialty chemicals company's stock, valued at approximately $2,433,000.

Several other hedge funds have also recently bought and sold shares of IFF. UMB Bank n.a. increased its stake in shares of International Flavors & Fragrances by 8.9% during the fourth quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 119 shares during the period. Truist Financial Corp lifted its holdings in shares of International Flavors & Fragrances by 0.7% during the fourth quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company's stock worth $1,683,000 after buying an additional 129 shares in the last quarter. Wahed Invest LLC boosted its position in shares of International Flavors & Fragrances by 2.1% in the fourth quarter. Wahed Invest LLC now owns 6,339 shares of the specialty chemicals company's stock valued at $536,000 after acquiring an additional 130 shares during the period. United Community Bank increased its position in International Flavors & Fragrances by 19.4% during the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock worth $78,000 after acquiring an additional 150 shares during the period. Finally, Commerce Bank raised its stake in International Flavors & Fragrances by 3.8% in the 4th quarter. Commerce Bank now owns 4,141 shares of the specialty chemicals company's stock worth $350,000 after purchasing an additional 152 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IFF has been the topic of several recent research reports. Morgan Stanley lowered their target price on shares of International Flavors & Fragrances from $106.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Cfra lowered International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price objective on the stock. in a research note on Thursday, February 20th. Bank of America reduced their target price on International Flavors & Fragrances from $105.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus cut their price objective on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Mizuho decreased their target price on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and a consensus price target of $94.54.

Insider Buying and Selling at International Flavors & Fragrances

In related news, Director Kevin O'byrne acquired 6,500 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $80.44 per share, with a total value of $522,860.00. Following the completion of the purchase, the director now directly owns 6,500 shares in the company, valued at $522,860. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.20% of the company's stock.

International Flavors & Fragrances Price Performance

IFF traded up $0.06 on Monday, reaching $79.12. The stock had a trading volume of 1,143,937 shares, compared to its average volume of 1,528,102. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $20.23 billion, a price-to-earnings ratio of 84.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. International Flavors & Fragrances Inc. has a fifty-two week low of $65.85 and a fifty-two week high of $106.77. The firm has a 50-day moving average of $76.88 and a 200-day moving average of $84.39.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.83 by $0.14. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, June 20th. International Flavors & Fragrances's payout ratio is presently 170.21%.

About International Flavors & Fragrances

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.