Sei Investments Co. Acquires 120,688 Shares of International Flavors & Fragrances Inc. $IFF

Key Points

• Sei Investments increased its IFF stake by 33.8% in the first quarter, acquiring 120,688 shares and bringing its holdings to 477,544 shares valued at approximately $34.6 million. Institutional investors collectively own 96.02% of the company.
• Analysts maintain a positive outlook, with 13 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $91.16, above the stock’s $76.42 opening price.
• IFF exceeded quarterly earnings expectations, reporting $1.25 in EPS and $2.74 billion in revenue, while maintaining a quarterly dividend of $0.40 per share, equivalent to a 2.1% annual yield.

Sei Investments Co. boosted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 33.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 477,544 shares of the specialty chemicals company's stock after acquiring an additional 120,688 shares during the period. Sei Investments Co. owned 0.19% of International Flavors & Fragrances worth $34,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. DNB Asset Management AS increased its holdings in shares of International Flavors & Fragrances by 0.3% in the fourth quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company's stock valued at $3,622,000 after purchasing an additional 139 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of International Flavors & Fragrances by 0.8% during the 4th quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company's stock worth $1,162,000 after buying an additional 140 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of International Flavors & Fragrances by 0.3% during the 4th quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company's stock worth $4,685,000 after buying an additional 200 shares during the period. Manning & Napier Advisors LLC boosted its holdings in shares of International Flavors & Fragrances by 0.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 42,033 shares of the specialty chemicals company's stock worth $2,855,000 after buying an additional 203 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of International Flavors & Fragrances from a "sell (d)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Oppenheimer increased their target price on International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Benchmark began coverage on International Flavors & Fragrances in a report on Tuesday, June 9th. They set a "buy" rating and a $100.00 price target for the company. JPMorgan Chase & Co. boosted their price target on International Flavors & Fragrances from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, Argus upped their price target on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.16.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $76.42 on Tuesday. The firm has a market cap of $19.51 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. The stock's fifty day moving average price is $76.61 and its two-hundred day moving average price is $74.73. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $84.45.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, beating 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 firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the company posted $1.20 EPS. The company's revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 4.55 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, June 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio is presently 48.93%.

Insider Buying and Selling

In other news, Director Paul J. Fribourg bought 260,000 shares of the firm's stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the acquisition, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.07% of the stock is currently owned by corporate insiders.

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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