Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Zurcher Kantonalbank reduced its stake in International Flavors & Fragrances by 53.1% in Q4, selling 180,191 shares and ending the period with 159,021 shares (about 0.06% of the company, worth $10.7M).
• Director Paul J. Fribourg bought 142,000 IFF shares on March 12 at roughly $70.13, raising his holdings to 2,422,730 shares and reflecting insider ownership of about 1.07%.
• Analysts maintain a consensus rating of “Moderate Buy” with an average price target of $87.50 (12 Buys, 4 Holds, 1 Sell), though recent notes show mixed target adjustments.

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 53.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,021 shares of the specialty chemicals company's stock after selling 180,191 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of International Flavors & Fragrances worth $10,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Rafferty Asset Management LLC grew its stake 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 worth $1,344,000 after acquiring an additional 158 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of International Flavors & Fragrances by 6.1% in the third 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 in the last quarter. Parr Mcknight Wealth Management Group LLC boosted its stake in shares of 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 valued at $1,423,000 after buying an additional 199 shares during the period. Truist Financial Corp boosted its stake in shares of International Flavors & Fragrances by 2.3% in the 3rd quarter. Truist Financial Corp now owns 9,090 shares of the specialty chemicals company's stock valued at $559,000 after buying an additional 203 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of 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 period. Institutional investors and hedge funds own 96.02% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IFF. Deutsche Bank Aktiengesellschaft lifted their price objective on International Flavors & Fragrances from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. BNP Paribas Exane reduced their price objective on shares of International Flavors & Fragrances from $88.00 to $85.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Berenberg Bank reduced their price objective on shares of International Flavors & Fragrances from $78.30 to $77.50 and set a "hold" rating on the stock in a report on Thursday, February 5th. Wall Street Zen upgraded shares of International Flavors & Fragrances from a "sell" rating to a "hold" rating in a report on Sunday, January 4th. Finally, Bank of America raised their price objective on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, January 8th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.50.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 142,000 shares of the business's 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 acquisition, the director directly owned 2,422,730 shares of the company's stock, valued at $169,906,054.90. The trade was a 6.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.07% of the stock is owned by insiders.

International Flavors & Fragrances Trading Down 0.3%

Shares of International Flavors & Fragrances stock opened at $70.95 on Friday. 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 has a market cap of $18.12 billion, a price-to-earnings ratio of -51.79, a PEG ratio of 1.92 and a beta of 1.02. The company has a fifty day simple moving average of $74.21 and a 200-day simple moving average of $69.61.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its earnings results 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). 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 during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities analysts forecast that International Flavors & Fragrances Inc. will post 4.42 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were issued 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 presently -116.79%.

International Flavors & Fragrances 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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