Hsbc Holdings PLC Increases Stock Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Hsbc Holdings PLC boosted its stake in International Flavors & Fragrances by 15.4% in the first quarter, ending with 523,899 shares worth about $37.94 million.
• Director Paul J. Fribourg bought 260,000 shares for about $19.3 million, a transaction that increased his ownership by 10.73%.
• Analysts remain mostly positive on IFF, with 13 Buy ratings and 5 Hold ratings; the consensus target price is $91.16, while the stock recently traded at $77.33.

Hsbc Holdings PLC increased its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 15.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 523,899 shares of the specialty chemicals company's stock after acquiring an additional 69,742 shares during the quarter. Hsbc Holdings PLC owned about 0.21% of International Flavors & Fragrances worth $37,940,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IFF. Lloyd Advisory Services LLC. purchased a new stake in International Flavors & Fragrances during the 4th quarter valued at about $27,000. Root Financial Partners LLC increased its stake in International Flavors & Fragrances by 97.9% during the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company's stock valued at $40,000 after purchasing an additional 274 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC grew its stake in shares of 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 worth $50,000 after acquiring an additional 610 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 worth $54,000 after acquiring an additional 239 shares during the period. 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 company's stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the transaction, the director directly owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on IFF shares. Berenberg Bank lifted their price target on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the company a "hold" rating in a report on Thursday, May 7th. Benchmark began coverage on shares of International Flavors & Fragrances in a research report on Tuesday, June 9th. They issued a "buy" rating and a $100.00 price objective on the stock. Jefferies Financial Group lifted their target price on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Citigroup decreased their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.16.

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $77.33 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 quick ratio of 0.87 and a current ratio of 1.49. The stock has a 50 day moving average price of $76.59 and a 200 day moving average price of $74.44. The stock has a market cap of $19.74 billion, a PE ratio of 23.65, a P/E/G ratio of 1.82 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. International Flavors & Fragrances's quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that International Flavors & Fragrances Inc. will post 4.55 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, June 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. International Flavors & Fragrances's dividend payout ratio is currently 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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