Clearbridge Investments LLC Acquires 28,287 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Clearbridge Investments increased its stake in International Flavors & Fragrances by 2.8% in the fourth quarter, buying 28,287 additional shares and bringing its total holding to 1,032,069 shares worth about $69.6 million.
• Wall Street sentiment is generally positive, with 12 analysts rating IFF a Buy and five a Hold; the stock’s average target price is about $90.49, though some firms recently trimmed or raised their price targets.
• IFF reported stronger-than-expected quarterly results, posting EPS of $1.25 versus the $1.08 consensus and revenue of $2.74 billion, while also announcing a quarterly dividend of $0.40 per share payable July 10.

Clearbridge Investments LLC boosted its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,032,069 shares of the specialty chemicals company's stock after purchasing an additional 28,287 shares during the period. Clearbridge Investments LLC owned about 0.40% of International Flavors & Fragrances worth $69,551,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Lloyd Advisory Services LLC. purchased a new position in International Flavors & Fragrances in the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. lifted its stake in International Flavors & Fragrances by 55.7% in 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 lifted its stake in International Flavors & Fragrances by 884.1% in 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 lifted its stake in International Flavors & Fragrances by 42.8% in 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, AlphaQuest LLC lifted its stake in International Flavors & Fragrances by 1,190.0% in the third quarter. AlphaQuest LLC now owns 903 shares of the specialty chemicals company's stock valued at $56,000 after purchasing an additional 833 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Wall Street Analyst Weigh In

IFF has been the topic of several research analyst reports. Rothschild & Co Redburn dropped their price objective on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Mizuho upped their price objective on International Flavors & Fragrances from $75.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on International Flavors & Fragrances from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, June 1st. BNP Paribas Exane upped their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Finally, Citigroup increased their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $90.49.

International Flavors & Fragrances Trading Down 0.4%

International Flavors & Fragrances stock opened at $72.68 on Tuesday. The stock has a market cap of $18.56 billion, a P/E ratio of 22.23, a PEG ratio of 1.69 and a beta of 0.94. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $84.45. The firm's fifty day moving average price is $73.75 and its 200-day moving average price is $72.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.56 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio is currently 48.93%.

Insider Buying and Selling

In other news, Director Paul J. Fribourg bought 260,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the purchase, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 415,500 shares of company stock valued at $30,276,875 over the last quarter. 1.07% of the stock is owned by corporate insiders.

International Flavors & Fragrances 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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