International Flavors & Fragrances Inc. $IFF Shares Purchased by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management boosted its stake in International Flavors & Fragrances by 117% in the fourth quarter, buying an additional 80,014 shares to bring its total holdings to 148,377 shares worth about $10 million.
• Other institutional investors also increased their positions, and the article notes that 96.02% of IFF stock is owned by institutions and hedge funds.
• IFF reported better-than-expected quarterly earnings of $1.25 per share on revenue of $2.74 billion, and analysts remain constructive with a consensus rating of “Moderate Buy” and an average price target of $90.80.

Swiss Life Asset Management Ltd raised its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 117.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,377 shares of the specialty chemicals company's stock after acquiring an additional 80,014 shares during the quarter. Swiss Life Asset Management Ltd owned about 0.06% of International Flavors & Fragrances worth $9,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. increased its position in International Flavors & Fragrances by 131.3% during the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company's stock worth $441,068,000 after acquiring an additional 4,069,075 shares during the period. Ameriprise Financial Inc. grew its holdings in International Flavors & Fragrances by 1,842.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company's stock valued at $183,264,000 after buying an additional 2,363,307 shares in the last quarter. Dodge & Cox lifted its holdings in shares of International Flavors & Fragrances by 5.5% in the 3rd quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company's stock valued at $2,275,296,000 after purchasing an additional 1,925,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in International Flavors & Fragrances by 51.4% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,706,279 shares of the specialty chemicals company's stock valued at $289,624,000 after purchasing an additional 1,598,266 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in International Flavors & Fragrances by 27.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,927,070 shares of the specialty chemicals company's stock valued at $426,292,000 after buying an additional 1,485,976 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Flavors & Fragrances

In related news, Director Paul J. Fribourg acquired 142,000 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average price 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 of the company's stock, valued at approximately $169,906,054.90. This represents a 6.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.07% of the company's stock.

International Flavors & Fragrances Stock Performance

IFF stock opened at $78.50 on Wednesday. The firm has a market cap of $20.04 billion, a PE ratio of 24.01, a P/E/G ratio of 1.80 and a beta of 0.93. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $72.62 and a 200-day moving average of $70.68. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $84.45.

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 (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.64 billion. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.International Flavors & Fragrances'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 earnings per share. As a group, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.53 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio (DPR) is 48.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group upped their price objective on shares of International Flavors & Fragrances from $75.00 to $86.00 in a research note 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 report on Thursday, May 7th. Berenberg Bank upped their price objective on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a "hold" rating in a report on Thursday, May 7th. Citigroup upped their price objective on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of International Flavors & Fragrances from a "sell (d)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $90.80.

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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