Elevation Point Wealth Partners LLC purchased a new position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,671 shares of the specialty chemicals company's stock, valued at approximately $993,000.
Other large investors have also recently made changes to their positions in the company. Dodge & Cox increased its holdings in International Flavors & Fragrances by 5.5% in the 3rd quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company's stock worth $2,275,296,000 after acquiring an additional 1,925,251 shares in the last quarter. State Street Corp boosted its position in shares of International Flavors & Fragrances by 1.1% in the fourth quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company's stock worth $751,875,000 after purchasing an additional 121,260 shares during the period. First Eagle Investment Management LLC increased its stake in shares of International Flavors & Fragrances by 27.5% in the fourth quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company's stock worth $595,166,000 after purchasing an additional 1,904,598 shares in the last quarter. Invesco Ltd. raised its position in shares of International Flavors & Fragrances by 4.9% during the 4th quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company's stock valued at $506,760,000 after purchasing an additional 352,636 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of International Flavors & Fragrances by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company's stock valued at $454,607,000 after buying an additional 172,781 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at International Flavors & Fragrances
In related news, Director Paul J. Fribourg purchased 260,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the acquisition, the director owned 2,682,730 shares of the company's stock, valued at approximately $199,273,184.40. This represents a 10.73% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.07% of the company's stock.
International Flavors & Fragrances Price Performance
IFF stock opened at $82.81 on Tuesday. 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 $21.14 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The company has a fifty day simple moving average of $75.96 and a two-hundred day simple moving average of $73.65. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33.
International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the company earned $1.20 EPS. The business's revenue was down 3.6% compared to the same quarter last year. Analysts anticipate that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current fiscal year.
International Flavors & Fragrances Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.9%. International Flavors & Fragrances's payout ratio is 48.93%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Citigroup cut their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th. Benchmark assumed coverage on International Flavors & Fragrances in a research note on Tuesday, June 9th. They issued a "buy" rating and a $100.00 price objective for the company. Morgan Stanley lifted their target price on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. BNP Paribas Exane lifted their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Finally, Rothschild & Co Redburn dropped their target price on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, International Flavors & Fragrances has an average rating of "Moderate Buy" and a consensus price target of $91.16.
Check Out Our Latest Stock Report on International Flavors & Fragrances
International Flavors & Fragrances Company Profile
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Free Report)
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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