M&T Bank Corp Reduces Stock Holdings in International Flavors & Fragrances Inc. $IFF

Key Points

• M&T Bank Corp cut its stake in International Flavors & Fragrances by 40.9% in Q4, selling 20,012 shares and leaving it with 28,908 shares worth $1.95 million.
• Director Paul J. Fribourg bought 142,000 IFF shares at about $70.13 each on March 12 (≈$9.96 million), increasing his holdings to 2,422,730 shares — a 6.23% increase in his position.
• Analysts hold a consensus of "Moderate Buy" on IFF with a $87.50 average target price (12 Buy, 4 Hold, 1 Sell).

M&T Bank Corp lowered its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 40.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,908 shares of the specialty chemicals company's stock after selling 20,012 shares during the quarter. M&T Bank Corp's holdings in International Flavors & Fragrances were worth $1,948,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Rafferty Asset Management LLC increased its position in International Flavors & Fragrances by 0.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,837 shares of the specialty chemicals company's stock worth $1,344,000 after purchasing an additional 158 shares in the last quarter. Clearstead Advisors LLC increased its position in International Flavors & Fragrances by 6.1% during the 3rd quarter. Clearstead Advisors LLC now owns 3,021 shares of the specialty chemicals company's stock worth $186,000 after purchasing an additional 173 shares in the last quarter. Parr Mcknight Wealth Management Group LLC increased its position in International Flavors & Fragrances by 0.9% during the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 23,129 shares of the specialty chemicals company's stock worth $1,423,000 after purchasing an additional 199 shares in the last quarter. Truist Financial Corp increased its position in International Flavors & Fragrances by 2.3% during the 3rd quarter. Truist Financial Corp now owns 9,090 shares of the specialty chemicals company's stock worth $559,000 after purchasing an additional 203 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analyst Ratings Changes

IFF has been the topic of a number of research analyst reports. Mizuho raised their price target on International Flavors & Fragrances from $75.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. Bank of America raised their price target on International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, January 8th. Citigroup decreased their price target on International Flavors & Fragrances from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 13th. Berenberg Bank decreased their price target on International Flavors & Fragrances from $78.30 to $77.50 and set a "hold" rating on the stock in a research note on Thursday, February 5th. Finally, Argus raised their price target on International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and a consensus target price of $87.50.

Insider Buying and Selling at International Flavors & Fragrances

In other news, Director Paul J. Fribourg acquired 142,000 shares of International Flavors & Fragrances stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $70.13 per share, with a total value of $9,958,460.00. Following the purchase, the director directly owned 2,422,730 shares of the company's stock, valued at approximately $169,906,054.90. This trade represents a 6.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.07% of the stock is owned by corporate insiders.

International Flavors & Fragrances Stock Down 0.2%

Shares of NYSE:IFF opened at $70.82 on Wednesday. The firm has a market cap of $18.09 billion, a price-to-earnings ratio of -51.69, a PEG ratio of 1.92 and a beta of 1.02. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month high of $84.45. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The stock's 50-day moving average price is $73.50 and its two-hundred day moving average price is $69.95.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share for the quarter, missing the consensus estimate 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%. The business's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share. On average, research analysts forecast that International Flavors & Fragrances Inc. will post 4.42 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, March 20th. International Flavors & Fragrances's payout ratio is currently -116.79%.

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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