OP Asset Management Ltd Takes $3.34 Million Position in International Flavors & Fragrances Inc. $IFF

OP Asset Management Ltd acquired a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 46,059 shares of the specialty chemicals company’s stock, valued at approximately $3,342,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in International Flavors & Fragrances by 5.5% during the 3rd quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company’s stock valued at $2,275,296,000 after purchasing an additional 1,925,251 shares in the last quarter. State Street Corp lifted its holdings in shares of International Flavors & Fragrances by 1.1% in the fourth quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company’s stock valued at $751,875,000 after buying an additional 121,260 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of International Flavors & Fragrances by 27.5% in the fourth quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock valued at $595,166,000 after buying an additional 1,904,598 shares during the period. Invesco Ltd. boosted its stake in International Flavors & Fragrances by 4.9% during the fourth quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock valued at $506,760,000 after buying an additional 352,636 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in International Flavors & Fragrances by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,771,894 shares of the specialty chemicals company’s stock worth $454,607,000 after acquiring an additional 172,781 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Paul J. Fribourg purchased 260,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the acquisition, the director owned 2,682,730 shares in the company, valued at $199,273,184.40. This trade represents a 10.73% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.07% of the stock is owned by company insiders.

International Flavors & Fragrances Stock Performance

Shares of International Flavors & Fragrances stock opened at $76.26 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 quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The stock has a market cap of $19.47 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.77 and a beta of 0.94. The business has a fifty day simple moving average of $74.96 and a 200-day simple moving average of $72.89.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business earned $1.20 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.56 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BNP Paribas Exane upped their price target on shares of International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Berenberg Bank boosted their target price on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a report on Thursday, May 7th. Weiss Ratings raised shares of International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Jefferies Financial Group lifted their price target on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Finally, Rothschild & Co Redburn dropped their price target on International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and an average target price of $90.58.

International Flavors & Fragrances Company 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.