International Flavors & Fragrances Inc. $IFF Shares Purchased by Barclays PLC

Key Points

• Barclays PLC raised its stake in International Flavors & Fragrances by 9.9% in Q3, acquiring 90,363 more shares to hold 999,262 shares (about 0.39% ownership) valued at roughly $61.5 million.
• Institutional ownership is very high at 96.02%, with recent large moves including Ilex Capital’s new $212.1M position, Ameriprise increasing to 2.49M shares (~$183.3M), and Dodge & Cox holding 35.05M shares (~$2.58B).
• IFF reported Q results with EPS of $0.80 (missed consensus) and revenue of $2.59B (beat expectations but down 6.6% YoY), announced a $0.40 quarterly dividend (2.2% yield), and carries a consensus analyst price target of about $90.09 ("Moderate Buy").

Barclays PLC raised its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 999,262 shares of the specialty chemicals company's stock after acquiring an additional 90,363 shares during the period. Barclays PLC owned approximately 0.39% of International Flavors & Fragrances worth $61,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ilex Capital Partners UK LLP purchased a new position in International Flavors & Fragrances during the 2nd quarter worth $212,090,000. Ameriprise Financial Inc. increased its stake in shares of International Flavors & Fragrances by 1,842.0% during the second quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company's stock worth $183,264,000 after acquiring an additional 2,363,307 shares during the period. Norges Bank purchased a new position in International Flavors & Fragrances during the second quarter worth about $152,736,000. First Eagle Investment Management LLC raised its holdings in International Flavors & Fragrances by 27.3% during the third quarter. First Eagle Investment Management LLC now owns 6,927,070 shares of the specialty chemicals company's stock worth $426,292,000 after purchasing an additional 1,485,976 shares in the last quarter. Finally, Dodge & Cox lifted its position in International Flavors & Fragrances by 3.8% in the second quarter. Dodge & Cox now owns 35,047,387 shares of the specialty chemicals company's stock valued at $2,577,735,000 after purchasing an additional 1,272,780 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Performance

NYSE IFF opened at $73.02 on Tuesday. The business has a 50 day moving average price of $74.32 and a 200 day moving average price of $68.11. The company has a market capitalization of $18.66 billion, a P/E ratio of -53.30, a PEG ratio of 1.93 and a beta of 0.99. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $84.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.42 and a quick ratio of 0.85.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.The firm had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. International Flavors & Fragrances's payout ratio is presently -116.79%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays boosted their target price on International Flavors & Fragrances from $78.00 to $91.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. UBS Group raised their price target on International Flavors & Fragrances from $71.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, February 13th. Berenberg Bank dropped their price objective on International Flavors & Fragrances from $78.30 to $77.50 and set a "hold" rating on the stock in a report on Thursday, February 5th. Bank of America increased their price objective on International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, January 8th. Finally, Wall Street Zen raised International Flavors & Fragrances from a "sell" rating to a "hold" rating in a report on Sunday, January 4th. Thirteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $90.09.

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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