Covea Finance Has $10.23 Million Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Covea Finance lifted its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,760 shares of the specialty chemicals company's stock after buying an additional 8,670 shares during the quarter. Covea Finance owned about 0.05% of International Flavors & Fragrances worth $10,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Truist Financial Corp lifted its stake in shares of International Flavors & Fragrances by 0.7% in 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 during the last quarter. Wahed Invest LLC lifted its stake 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 worth $536,000 after buying an additional 130 shares during the last quarter. United Community Bank lifted its stake in shares of International Flavors & Fragrances by 19.4% in the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock worth $78,000 after buying an additional 150 shares during the last quarter. Commerce Bank lifted its stake in shares of International Flavors & Fragrances by 3.8% in the fourth quarter. Commerce Bank now owns 4,141 shares of the specialty chemicals company's stock worth $350,000 after buying an additional 152 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of International Flavors & Fragrances by 36.6% in the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock worth $54,000 after buying an additional 171 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IFF has been the subject of a number of analyst reports. Barclays upgraded shares of International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $76.00 to $84.00 in a research note on Thursday, May 8th. Mizuho dropped 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 research report on Tuesday, April 15th. UBS Group boosted their target price on shares of International Flavors & Fragrances from $82.00 to $83.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Oppenheimer dropped their target price on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Tigress Financial started coverage on shares of International Flavors & Fragrances in a research report on Wednesday, June 4th. They set a "buy" rating and a $105.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, International Flavors & Fragrances has an average rating of "Moderate Buy" and an average price target of $93.43.

International Flavors & Fragrances Trading Down 1.5%

Shares of International Flavors & Fragrances stock opened at $73.78 on Friday. The firm has a market capitalization of $18.87 billion, a PE ratio of -22.56, a price-to-earnings-growth ratio of 3.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 1.39. The company's fifty day moving average price is $76.04 and its two-hundred day moving average price is $80.14. International Flavors & Fragrances Inc. has a 52-week low of $65.85 and a 52-week high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.08. International Flavors & Fragrances had a negative net margin of 7.31% and a positive return on equity of 7.99%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. The business's revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. International Flavors & Fragrances's dividend payout ratio is presently -48.93%.

Insider Activity

In other news, Director Mehmood Khan bought 4,000 shares of International Flavors & Fragrances stock in a transaction dated Thursday, May 15th. The shares were bought at an average price of $75.33 per share, for a total transaction of $301,320.00. Following the purchase, the director now owns 4,604 shares of the company's stock, valued at approximately $346,819.32. This trade represents a 662.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Erik Fyrwald purchased 700 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average price of $74.00 per share, for a total transaction of $51,800.00. Following the transaction, the chief executive officer now owns 37,770 shares in the company, valued at $2,794,980. This represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 22,050 shares of company stock worth $1,688,512. Corporate insiders own 0.20% of the company's stock.

International Flavors & Fragrances Profile

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.

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