ICICI Prudential Asset Management Co Ltd Sells 58,836 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• ICICI Prudential Asset Management cut its stake in International Flavors & Fragrances by 47.9% in the fourth quarter, selling 58,836 shares and leaving it with 64,050 shares worth about $4.3 million.
• Insider buying stood out as Director Paul J. Fribourg purchased 260,000 shares at an average price of $74.28, boosting his holdings by 10.73% and bringing insider ownership to 1.07%.
• IFF reported solid quarterly results, beating earnings and revenue estimates, while analysts remain broadly positive with a consensus “Moderate Buy” rating and an average price target of $91.05.

ICICI Prudential Asset Management Co Ltd lessened its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,050 shares of the specialty chemicals company's stock after selling 58,836 shares during the quarter. ICICI Prudential Asset Management Co Ltd's holdings in International Flavors & Fragrances were worth $4,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lloyd Advisory Services LLC. purchased a new stake in International Flavors & Fragrances in the fourth quarter valued at about $27,000. Geneos Wealth Management Inc. raised its position in shares of 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 valued at $46,000 after purchasing an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in International Flavors & Fragrances by 884.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after purchasing an additional 610 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in International Flavors & Fragrances by 42.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company's stock worth $54,000 after purchasing an additional 239 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in International Flavors & Fragrances by 1,190.0% during the 3rd quarter. AlphaQuest LLC now owns 903 shares of the specialty chemicals company's stock valued at $56,000 after purchasing an additional 833 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Activity at International Flavors & Fragrances

In other news, Director Paul J. Fribourg bought 260,000 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were acquired at an average price 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 $199,273,184.40. The trade was a 10.73% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.07% of the stock is owned by insiders.

International Flavors & Fragrances Stock Performance

NYSE IFF opened at $77.64 on Friday. The stock has a market capitalization of $19.82 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.72 and a beta of 0.94. The stock has a 50-day moving average of $74.02 and a 200 day moving average of $72.29. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $84.45.

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 for the quarter, topping the consensus estimate of $1.08 by $0.17. The business 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 business's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. Sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.56 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, June 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, June 18th. International Flavors & Fragrances's payout ratio is 48.93%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of International Flavors & Fragrances from $75.00 to $86.00 in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on International Flavors & Fragrances from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Oppenheimer raised their price objective on International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Jefferies Financial Group upped their target price on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Finally, Barclays raised their price target on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $91.05.

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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