Tocqueville Asset Management L.P. Makes New Investment in International Flavors & Fragrances Inc. $IFF

Key Points

• Tocqueville Asset Management purchased a new stake of 408,984 shares in International Flavors & Fragrances valued at roughly $25,169,000, representing about 0.16% ownership.
• IFF reported quarterly EPS of $0.80, missing estimates by $0.05 while revenue of $2.59B beat expectations but fell 6.6% year-over-year; the company also announced a quarterly dividend of $0.40 (annualized $1.60, ~2.3% yield).
• Analyst sentiment has turned more positive with several firms raising price targets (e.g., Barclays to $91, BofA to $88) and a consensus rating of "Moderate Buy" with an average target of $90.09.

Tocqueville Asset Management L.P. bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 408,984 shares of the specialty chemicals company's stock, valued at approximately $25,169,000. Tocqueville Asset Management L.P. owned approximately 0.16% of International Flavors & Fragrances as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rafferty Asset Management LLC boosted its position in shares of International Flavors & Fragrances by 0.7% in the third quarter. Rafferty Asset Management LLC now owns 21,837 shares of the specialty chemicals company's stock valued at $1,344,000 after acquiring an additional 158 shares during the period. Clearstead Advisors LLC increased its holdings 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 acquiring an additional 173 shares during the period. Parr Mcknight Wealth Management Group LLC lifted its stake in International Flavors & Fragrances by 0.9% in 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. Central Pacific Bank Trust Division boosted its holdings in International Flavors & Fragrances by 1.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 10,900 shares of the specialty chemicals company's stock valued at $671,000 after purchasing an additional 200 shares during the period. Finally, Truist Financial Corp grew its position in shares of 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 valued at $559,000 after purchasing an additional 203 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF traded up $0.26 during mid-day trading on Friday, reaching $70.27. 213,624 shares of the company were exchanged, compared to its average volume of 1,799,660. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $84.45. The company's 50 day moving average price is $74.49 and its 200 day moving average price is $68.16. The stock has a market capitalization of $17.95 billion, a PE ratio of -51.25, a PEG ratio of 1.80 and a beta of 0.99. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The firm had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company's revenue for the quarter was down 6.6% on a year-over-year basis. Sell-side analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 20th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -116.79%.

Wall Street Analysts Forecast Growth

IFF has been the topic of several research analyst reports. UBS Group upped their price target on shares of International Flavors & Fragrances from $71.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, February 13th. Barclays boosted their target price on International Flavors & Fragrances from $78.00 to $91.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Bank of America raised their price target on International Flavors & Fragrances from $84.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, January 8th. Wall Street Zen raised International Flavors & Fragrances from a "sell" rating to a "hold" rating in a report on Sunday, January 4th. Finally, Rothschild & Co Redburn boosted their price objective on International Flavors & Fragrances from $66.00 to $74.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. Thirteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.09.

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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