Assenagon Asset Management S.A. Sells 96,110 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Assenagon Asset Management cut its stake in International Flavors & Fragrances by 91.3% in the first quarter, selling 96,110 shares and leaving it with 9,192 shares worth about $667,000.
• Insider buying stood out, as director Paul J. Fribourg purchased 260,000 shares at $74.28 each, boosting his ownership by 10.73% to 2.68 million shares.
• Analysts remain mostly positive on IFF, with 13 Buy ratings and 5 Hold ratings, giving the stock a consensus Moderate Buy and an average price target of $91.16.

Assenagon Asset Management S.A. lessened its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 91.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,192 shares of the specialty chemicals company's stock after selling 96,110 shares during the period. Assenagon Asset Management S.A.'s holdings in International Flavors & Fragrances were worth $667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Lloyd Advisory Services LLC. bought a new position in International Flavors & Fragrances in the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. raised its holdings in shares of International Flavors & Fragrances by 55.7% during the first 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 during the period. Transamerica Financial Advisors LLC raised its holdings in shares of International Flavors & Fragrances by 884.1% during the second 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 during the period. MassMutual Private Wealth & Trust FSB lifted its position in 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 valued at $54,000 after acquiring an additional 239 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its stake in International Flavors & Fragrances by 69.6% in the 4th quarter. Cromwell Holdings LLC now owns 894 shares of the specialty chemicals company's stock worth $61,000 after purchasing an additional 367 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg acquired 260,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the transaction, the director directly owned 2,682,730 shares of the company's stock, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BNP Paribas Exane lifted their price target on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Benchmark began coverage on International Flavors & Fragrances in a research note on Tuesday, June 9th. They issued a "buy" rating and a $100.00 target price on the stock. Citigroup reduced their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Barclays raised their price target on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, Berenberg Bank lifted their price objective on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the company a "hold" rating in a report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.16.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $83.62 on Friday. The company has a fifty day moving average price of $75.47 and a two-hundred day moving average price of $73.39. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $84.45. The stock has a market cap of $21.35 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.89 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its earnings results 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 net margin of 7.78% and a return on equity of 7.65%. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.64 billion. During the same period in the prior year, the firm earned $1.20 EPS. International Flavors & Fragrances's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances's payout ratio is 48.93%.

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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