Manning & Napier Advisors LLC Acquires New Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Manning & Napier Advisors LLC acquired a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,372 shares of the specialty chemicals company's stock, valued at approximately $1,271,000.

A number of other hedge funds and other institutional investors have also modified their holdings of IFF. Principal Securities Inc. increased its position in International Flavors & Fragrances by 36.6% during the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock worth $54,000 after buying an additional 171 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of International Flavors & Fragrances by 18.8% in the fourth quarter. Sanctuary Advisors LLC now owns 7,867 shares of the specialty chemicals company's stock valued at $690,000 after purchasing an additional 1,246 shares during the period. Truist Financial Corp grew its stake in International Flavors & Fragrances by 0.7% in the 4th quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company's stock valued at $1,683,000 after buying an additional 129 shares during the last quarter. Bank of New York Mellon Corp lifted its position in International Flavors & Fragrances by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,879,317 shares of the specialty chemicals company's stock worth $158,896,000 after acquiring an additional 17,372 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its position in shares of International Flavors & Fragrances by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 99,551 shares of the specialty chemicals company's stock valued at $8,417,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho lowered their price target on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Barclays upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $76.00 to $84.00 in a research note on Thursday, May 8th. Oppenheimer cut their target price on International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird reduced 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 research note on Thursday, May 8th. Finally, UBS Group increased their price target on shares of International Flavors & Fragrances from $82.00 to $83.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $93.43.

Insider Buying and Selling at International Flavors & Fragrances

In related news, Director Hernandez Margarita Palau bought 850 shares of the stock in a transaction on Monday, May 19th. The shares were purchased at an average price of $77.42 per share, for a total transaction of $65,807.00. Following the acquisition, the director now owns 2,393 shares in the company, valued at $185,266.06. This represents a 55.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kevin O'byrne purchased 4,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $76.05 per share, with a total value of $342,225.00. Following the transaction, the director now directly owns 7,696 shares of the company's stock, valued at $585,280.80. The trade was a 140.80% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 22,050 shares of company stock worth $1,688,512 over the last quarter. 0.20% of the stock is currently owned by company insiders.

International Flavors & Fragrances Stock Up 1.4%

NYSE:IFF traded up $1.05 during mid-day trading on Tuesday, reaching $74.81. The company's stock had a trading volume of 1,833,139 shares, compared to its average volume of 1,514,998. The company has a quick ratio of 1.39, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $19.14 billion, a PE ratio of -22.88, a price-to-earnings-growth ratio of 3.28 and a beta of 1.05. International Flavors & Fragrances Inc. has a 1 year low of $65.85 and a 1 year high of $106.77. The stock has a fifty day moving average of $76.05 and a 200-day moving average of $79.91.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.08. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 7.99% and a negative net margin of 7.31%. The company's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. Equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. International Flavors & Fragrances's dividend payout ratio is presently -48.93%.

International Flavors & Fragrances Profile

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.