OP Asset Management Ltd Acquires Shares of 46,059 International Flavors & Fragrances Inc. $IFF

Key Points

• OP Asset Management initiated a new position in International Flavors & Fragrances, buying 46,059 shares worth about $3.34 million in the first quarter.
• Institutional ownership remains very high, with hedge funds and other investors owning 96.02% of the company’s stock. Several firms also increased their IFF holdings during the quarter.
• Wall Street sentiment is cautiously positive: analysts rate IFF a Moderate Buy with a consensus price target of $90.58, while the stock recently traded at $76.26 after the company beat quarterly EPS and revenue estimates.

OP Asset Management Ltd bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 46,059 shares of the specialty chemicals company's stock, valued at approximately $3,342,000.

Several other institutional investors have also modified their holdings of IFF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of International Flavors & Fragrances by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company's stock valued at $2,042,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of International Flavors & Fragrances by 15.7% during the first quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company's stock worth $309,000 after buying an additional 539 shares in the last quarter. Empowered Funds LLC increased its stake in shares of International Flavors & Fragrances by 71.5% in the first quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company's stock worth $811,000 after buying an additional 4,358 shares during the last quarter. Focus Partners Wealth raised its holdings in International Flavors & Fragrances by 25.5% in the first quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company's stock valued at $584,000 after acquiring an additional 1,530 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings raised shares of International Flavors & Fragrances from a "sell (d)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Berenberg Bank increased their price target on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a "hold" rating in a research report on Thursday, May 7th. Barclays lifted their price target on International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. BNP Paribas Exane boosted their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Finally, Citigroup cut their price objective on International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.58.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $76.26 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The firm's 50 day moving average is $74.96 and its two-hundred day moving average is $72.89. The firm has a market capitalization of $19.47 billion, a P/E ratio of 23.32, a PEG ratio of 1.77 and a beta of 0.94. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the company posted $1.20 EPS. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts anticipate that International Flavors & Fragrances Inc. will post 4.56 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. International Flavors & Fragrances's dividend payout ratio is presently 48.93%.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg acquired 260,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the purchase, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.07% of the company's stock.

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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