Choate Investment Advisors Takes $1.79 Million Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Choate Investment Advisors disclosed a new fourth-quarter stake in International Flavors & Fragrances, buying 26,612 shares valued at about $1.79 million.
• Institutional and insider ownership remains significant: 96.02% of IFF shares are held by institutions, and Director Paul J. Fribourg recently bought 142,000 shares for nearly $10 million.
• Analysts have turned more constructive on the stock, with several firms raising price targets and the consensus rating standing at Moderate Buy with an average target of $90.80. IFF also beat quarterly earnings expectations, reporting $1.25 EPS versus the expected $1.08.

Choate Investment Advisors purchased a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,612 shares of the specialty chemicals company's stock, valued at approximately $1,793,000.

Other hedge funds have also modified their holdings of the company. Lloyd Advisory Services LLC. bought a new stake in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. grew its stake 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 valued at $46,000 after purchasing an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC grew its stake 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 valued at $50,000 after purchasing an additional 610 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of International Flavors & Fragrances by 42.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company's stock valued at $54,000 after purchasing an additional 239 shares during the last quarter. Finally, Cromwell Holdings LLC grew its stake in shares of International Flavors & Fragrances by 69.6% during the fourth quarter. Cromwell Holdings LLC now owns 894 shares of the specialty chemicals company's stock valued at $61,000 after purchasing an additional 367 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on IFF shares. Berenberg Bank increased their price target on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the company a "hold" rating in a research note on Thursday, May 7th. UBS Group raised their price objective on shares of International Flavors & Fragrances from $75.00 to $86.00 in a research note on Thursday, May 7th. Citigroup raised their price objective on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Jefferies Financial Group raised their price objective on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Finally, Mizuho raised their price objective on shares of International Flavors & Fragrances from $75.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $90.80.

Insider Buying and Selling at International Flavors & Fragrances

In other news, Director Paul J. Fribourg purchased 142,000 shares of International Flavors & Fragrances stock in a transaction dated Thursday, March 12th. The shares were bought at an average cost of $70.13 per share, with a total value of $9,958,460.00. Following the completion of the transaction, the director directly owned 2,422,730 shares in the company, valued at $169,906,054.90. This trade represents a 6.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.07% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Price Performance

Shares of IFF stock opened at $75.32 on Tuesday. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $84.45. The stock has a market cap of $19.23 billion, a PE ratio of 23.03, a PEG ratio of 1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49. The firm's 50 day moving average price is $72.65 and its two-hundred day moving average price is $71.37.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.64 billion. During the same period last year, the firm earned $1.20 earnings per share. The business's revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts forecast that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders 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 dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently 48.93%.

International Flavors & Fragrances Company 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.

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