Jefferies Group LLC Grows Stake in International Flavors & Fragrances Inc (IFF)

Jefferies Group LLC raised its holdings in shares of International Flavors & Fragrances Inc (NYSE:IFF) by 108.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,918 shares of the specialty chemicals company’s stock after buying an additional 15,049 shares during the quarter. Jefferies Group LLC’s holdings in International Flavors & Fragrances were worth $4,023,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IFF. Winder Investment Pte Ltd grew its holdings in shares of International Flavors & Fragrances by 27.7% during the third quarter. Winder Investment Pte Ltd now owns 17,872,160 shares of the specialty chemicals company’s stock worth $2,486,375,000 after buying an additional 3,872,160 shares in the last quarter. FMR LLC grew its holdings in shares of International Flavors & Fragrances by 17,389.6% during the third quarter. FMR LLC now owns 2,290,964 shares of the specialty chemicals company’s stock worth $318,718,000 after buying an additional 2,277,865 shares in the last quarter. BlackRock Inc. grew its holdings in shares of International Flavors & Fragrances by 5.9% during the second quarter. BlackRock Inc. now owns 5,646,920 shares of the specialty chemicals company’s stock worth $699,992,000 after buying an additional 315,418 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp purchased a new stake in shares of International Flavors & Fragrances during the second quarter worth $33,886,000. Finally, Rovida Advisors Inc. purchased a new stake in shares of International Flavors & Fragrances during the second quarter worth $29,124,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Shares of IFF opened at $137.00 on Friday. The company has a quick ratio of 8.21, a current ratio of 9.16 and a debt-to-equity ratio of 1.07. International Flavors & Fragrances Inc has a 12-month low of $122.11 and a 12-month high of $157.40. The stock has a market capitalization of $14.79 billion, a P/E ratio of 23.26, a PEG ratio of 2.46 and a beta of 0.85.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Monday, November 5th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.54. International Flavors & Fragrances had a net margin of 7.86% and a return on equity of 21.76%. The firm had revenue of $907.50 million during the quarter, compared to analyst estimates of $886.15 million. During the same quarter in the prior year, the firm posted $1.47 earnings per share. International Flavors & Fragrances’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that International Flavors & Fragrances Inc will post 6.27 EPS for the current year.

In related news, EVP Francisco Fortanet sold 439 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $142.30, for a total value of $62,469.70. Following the completion of the sale, the executive vice president now owns 15,754 shares of the company’s stock, valued at $2,241,794.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Winder Investment Pte Ltd acquired 64,500 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The stock was purchased at an average cost of $139.05 per share, with a total value of $8,968,725.00. Following the acquisition, the insider now directly owns 18,080,291 shares of the company’s stock, valued at approximately $2,514,064,463.55. The disclosure for this purchase can be found here. Insiders purchased 357,000 shares of company stock valued at $49,370,717 in the last three months. 0.48% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on IFF. Raymond James lowered shares of International Flavors & Fragrances from a “market perform” rating to an “underperform” rating and set a $135.00 target price for the company. in a report on Friday, November 16th. ValuEngine raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Citigroup began coverage on shares of International Flavors & Fragrances in a report on Friday, November 16th. They set a “neutral” rating and a $152.00 target price for the company. Deutsche Bank raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and upped their target price for the stock from $126.00 to $154.00 in a report on Tuesday, October 16th. Finally, Zacks Investment Research raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Monday, August 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $145.00.

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About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through two segments, Flavors and Fragrances. The Flavors segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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