Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 26,600 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Fjarde AP Fonden sharply increased its stake in International Flavors & Fragrances, buying 26,600 additional shares in the first quarter and lifting its holdings by 295.3% to 35,609 shares worth about $2.58 million.
• Institutional ownership in IFF remains very high at 96.02%, and several other funds also added to their positions during the quarter.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $91.16; the shares also recently rose after the company beat first-quarter earnings and revenue estimates.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 295.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,609 shares of the specialty chemicals company's stock after buying an additional 26,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in International Flavors & Fragrances were worth $2,583,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of International Flavors & Fragrances by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company's stock valued at $2,042,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp boosted its position in International Flavors & Fragrances by 15.7% in the first quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company's stock valued at $309,000 after buying an additional 539 shares in the last quarter. Empowered Funds LLC boosted its position in International Flavors & Fragrances by 71.5% in the first quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company's stock valued at $811,000 after buying an additional 4,358 shares in the last quarter. Focus Partners Wealth grew its stake in International Flavors & Fragrances by 25.5% during the first quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company's stock worth $584,000 after buying an additional 1,530 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings 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 worth $46,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analyst Weigh In

IFF has been the topic of several recent analyst reports. Benchmark started coverage on International Flavors & Fragrances in a report on Tuesday, June 9th. They issued a "buy" rating and a $100.00 target price on the stock. Morgan Stanley lifted their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reduced 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. Rothschild & Co Redburn lowered their target price on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Finally, Berenberg Bank upped their price target on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a "hold" rating in a research report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $91.16.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 260,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost 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 approximately $199,273,184.40. This represents a 10.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.07% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Stock Down 1.2%

NYSE:IFF opened at $82.81 on Tuesday. The stock's fifty day moving average price is $75.96 and its two-hundred day moving average price is $73.65. The company has a market cap of $21.14 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 1.95 and a beta of 0.93. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $84.45. 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 earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.17. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 earnings per share. On average, analysts anticipate that International Flavors & Fragrances Inc. will post 4.55 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio (DPR) is 48.93%.

About International Flavors & Fragrances

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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