First Eagle Investment Management LLC Acquires 1,904,598 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• First Eagle Investment Management boosted its stake in International Flavors & Fragrances by 27.5% in the fourth quarter, buying 1.9 million more shares and bringing its total holding to 8.8 million shares valued at about $595 million.
• Analyst sentiment remains positive, with several firms raising price targets and the stock carrying a Moderate Buy consensus and average target price of $90.80.
• IFF reported better-than-expected quarterly earnings of $1.25 per share on revenue of $2.74 billion, and the company also declared a quarterly dividend of $0.40 per share, implying a 2.0% annual yield.

First Eagle Investment Management LLC increased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 27.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,831,668 shares of the specialty chemicals company's stock after purchasing an additional 1,904,598 shares during the period. First Eagle Investment Management LLC owned approximately 3.45% of International Flavors & Fragrances worth $595,166,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IFF. Geneos Wealth Management Inc. boosted its holdings in 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 acquiring an additional 210 shares during the period. Transamerica Financial Advisors LLC boosted its holdings in 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 acquiring an additional 610 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in 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 acquiring an additional 239 shares during the period. Cromwell Holdings LLC boosted its holdings in 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 acquiring an additional 367 shares during the period. Finally, AlphaQuest LLC boosted its holdings in International Flavors & Fragrances by 1,190.0% during the third quarter. AlphaQuest LLC now owns 903 shares of the specialty chemicals company's stock valued at $56,000 after acquiring an additional 833 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IFF. Oppenheimer upped their price objective on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Jefferies Financial Group upped their price objective on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. BNP Paribas Exane upped their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Weiss Ratings raised shares of International Flavors & Fragrances from a "sell (d)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Finally, Rothschild & Co Redburn cut their price objective on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and an average price target of $90.80.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg bought 142,000 shares of the business's stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $70.13 per share, for a total transaction of $9,958,460.00. Following the completion of the acquisition, the director owned 2,422,730 shares in the company, valued at approximately $169,906,054.90. This trade represents a 6.23% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.07% of the company's stock.

International Flavors & Fragrances Price Performance

IFF opened at $78.74 on Tuesday. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $84.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. The company's 50 day simple moving average is $72.69 and its 200-day simple moving average is $70.59. The stock has a market capitalization of $20.10 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 1.88 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 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 company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.64 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.48 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders 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 annualized dividend and a yield of 2.0%. International Flavors & Fragrances's dividend payout ratio (DPR) is 48.93%.

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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