International Flavors & Fragrances Inc. (NYSE:IFF) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in International Flavors & Fragrances Inc. by 30.4%, owning 47,711 shares worth approximately $3.7 million as of its latest SEC filing.
• Insider activity has been notable, with Director Paul J. Fribourg purchasing 15,450 shares worth over $1 million, indicating strong confidence in the company's future.
• Analysts have mixed views on the stock, with price targets ranging from $79.00 to $100.00 and a consensus rating of "Moderate Buy".

LPL Financial LLC lifted its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 30.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,711 shares of the specialty chemicals company's stock after purchasing an additional 11,129 shares during the quarter. LPL Financial LLC's holdings in International Flavors & Fragrances were worth $3,703,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Mather Group LLC. raised its holdings in International Flavors & Fragrances by 179.9% in the first quarter. Mather Group LLC. now owns 655 shares of the specialty chemicals company's stock valued at $51,000 after acquiring an additional 421 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in International Flavors & Fragrances in the first quarter valued at approximately $77,000. Quarry LP acquired a new stake in International Flavors & Fragrances in the fourth quarter valued at approximately $78,000. Farther Finance Advisors LLC raised its holdings in International Flavors & Fragrances by 48.5% in the first quarter. Farther Finance Advisors LLC now owns 1,534 shares of the specialty chemicals company's stock valued at $119,000 after acquiring an additional 501 shares in the last quarter. Finally, CX Institutional acquired a new stake in International Flavors & Fragrances in the first quarter valued at approximately $138,000. Institutional investors and hedge funds own 96.02% of the company's stock.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg bought 15,450 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $64.80 per share, for a total transaction of $1,001,160.00. Following the transaction, the director owned 15,450 shares of the company's stock, valued at approximately $1,001,160. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kevin O'byrne acquired 4,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price of $76.05 per share, for a total transaction of $342,225.00. Following the completion of the transaction, the director directly owned 7,696 shares in the company, valued at approximately $585,280.80. This represents a 140.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 48,100 shares of company stock worth $3,330,287. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company cut their price objective on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. UBS Group cut their price objective on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Morgan Stanley cut their price objective on shares of International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Robert W. Baird cut their price objective on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.36.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $65.78 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86. The stock has a market capitalization of $16.86 billion, a P/E ratio of -42.44, a P/E/G ratio of 2.85 and a beta of 1.04. The company's fifty day moving average is $73.51 and its two-hundred day moving average is $76.66. International Flavors & Fragrances Inc. has a 1 year low of $62.33 and a 1 year high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.04. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.69 billion. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. International Flavors & Fragrances's revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. On average, sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's payout ratio is presently -103.23%.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division.

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