Advisors Preferred LLC Invests $2.83 Million in International Flavors & Fragrances Inc. $IFF

Key Points

• Advisors Preferred LLC established a new position in International Flavors & Fragrances (IFF), buying 41,647 shares in Q4 valued at about $2.83 million per its 13F filing.
• Insider purchase: Director Paul J. Fribourg bought 142,000 shares on March 12 for roughly $9.96 million, increasing his holdings to 2,422,730 shares (a 6.23% bump).
• IFF’s latest quarter missed EPS ($0.80 vs. $0.85) with revenue down 6.6% year-over-year; analysts rate the stock a consensus "Moderate Buy" with an average target of $87.50.

Advisors Preferred LLC acquired a new position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,647 shares of the specialty chemicals company's stock, valued at approximately $2,833,000.

A number of other institutional investors have also recently bought and sold shares of the business. Rafferty Asset Management LLC boosted its stake in International Flavors & Fragrances by 0.7% during the third quarter. Rafferty Asset Management LLC now owns 21,837 shares of the specialty chemicals company's stock worth $1,344,000 after buying an additional 158 shares in the last quarter. Clearstead Advisors LLC boosted its stake in International Flavors & Fragrances by 6.1% during the third quarter. Clearstead Advisors LLC now owns 3,021 shares of the specialty chemicals company's stock worth $186,000 after buying an additional 173 shares in the last quarter. Parr Mcknight Wealth Management Group LLC boosted its stake in International Flavors & Fragrances by 0.9% during the third quarter. Parr Mcknight Wealth Management Group LLC now owns 23,129 shares of the specialty chemicals company's stock worth $1,423,000 after buying an additional 199 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of International Flavors & Fragrances by 0.3% in the fourth quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company's stock valued at $4,685,000 after buying an additional 200 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of International Flavors & Fragrances by 2.3% in the third quarter. Truist Financial Corp now owns 9,090 shares of the specialty chemicals company's stock valued at $559,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg purchased 142,000 shares of International Flavors & Fragrances stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $70.13 per share, with a total value of $9,958,460.00. Following the transaction, the director directly owned 2,422,730 shares in the company, valued at $169,906,054.90. The trade was a 6.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on IFF. Berenberg Bank dropped their price objective on International Flavors & Fragrances from $78.30 to $77.50 and set a "hold" rating for the company in a report on Thursday, February 5th. Argus boosted their price objective on International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Wells Fargo & Company boosted their price objective on International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on International Flavors & Fragrances from $75.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Finally, Oppenheimer dropped their price objective on International Flavors & Fragrances from $97.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.50.

International Flavors & Fragrances Price Performance

Shares of IFF opened at $70.91 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 1.42. The stock has a 50 day simple moving average of $72.99 and a 200 day simple moving average of $70.07. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $84.45. The firm has a market capitalization of $18.11 billion, a PE ratio of -51.76, a P/E/G ratio of 1.91 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. International Flavors & Fragrances's revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.42 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, June 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. International Flavors & Fragrances's dividend payout ratio is -116.79%.

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.

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