Massachusetts Financial Services Co. MA Reduces Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• Massachusetts Financial Services Co. cut its stake in International Flavors & Fragrances by 7.6% in Q4, selling 261,289 shares and now holds 3,162,550 shares (about 1.23%) worth roughly $213.1 million.
• Director Paul J. Fribourg bought 142,000 IFF shares at an average $70.13 on March 12 (~$9.96 million), raising his direct ownership to 2,422,730 shares.
• Quarterly results: IFF reported $0.80 EPS (missed the $0.85 consensus) on $2.59 billion revenue (above estimates), and paid a $0.40 quarterly dividend (annualized $1.60, ~2.2% yield).

Massachusetts Financial Services Co. MA decreased its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,162,550 shares of the specialty chemicals company's stock after selling 261,289 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.23% of International Flavors & Fragrances worth $213,124,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC grew its holdings in shares of International Flavors & Fragrances by 896.4% during the third quarter. True Wealth Design LLC now owns 548 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 493 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after buying an additional 210 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth about $49,000. Transamerica Financial Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after buying an additional 610 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of International Flavors & Fragrances by 42.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company's stock worth $54,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $72.44 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 0.33. The company has a market cap of $18.50 billion, a P/E ratio of -52.87, a PEG ratio of 1.90 and a beta of 1.02. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45. The company has a 50-day moving average price of $74.63 and a 200 day moving average price of $69.01.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.52 billion. International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. International Flavors & Fragrances's revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. Research analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were given a $0.40 dividend. The ex-dividend date was Friday, March 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -116.79%.

Analyst Ratings Changes

Several brokerages have recently weighed in on IFF. UBS Group decreased their target price on shares of International Flavors & Fragrances from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday. Oppenheimer upgraded shares of International Flavors & Fragrances from a "market perform" rating to an "outperform" rating and set a $97.00 target price for the company in a research note on Friday, February 13th. Rothschild & Co Redburn increased their target price on shares of International Flavors & Fragrances from $66.00 to $74.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Berenberg Bank decreased their target price on shares of International Flavors & Fragrances from $78.30 to $77.50 and set a "hold" rating for the company in a research note on Thursday, February 5th. Finally, Citigroup increased their target price on shares of International Flavors & Fragrances from $83.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and a consensus target price of $89.17.

Insider Buying and Selling

In other news, Director Paul J. Fribourg acquired 142,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $70.13 per share, for a total transaction of $9,958,460.00. Following the completion of the transaction, the director directly owned 2,422,730 shares in the company, valued at approximately $169,906,054.90. This trade represents a 6.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.07% of the stock is currently owned by insiders.

International Flavors & Fragrances Company 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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