ICICI Prudential Asset Management Co Ltd Lowers Position in International Flavors & Fragrances Inc. $IFF

ICICI Prudential Asset Management Co Ltd trimmed its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 47.9% in the fourth quarter, Holdings Channel reports. The firm owned 64,050 shares of the specialty chemicals company’s stock after selling 58,836 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in International Flavors & Fragrances were worth $4,316,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IFF. Dodge & Cox increased its position in shares of International Flavors & Fragrances by 5.5% during the third quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company’s stock valued at $2,275,296,000 after acquiring an additional 1,925,251 shares during the last quarter. Vanguard Group Inc. increased its holdings in International Flavors & Fragrances by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 31,133,186 shares of the specialty chemicals company’s stock valued at $1,915,936,000 after purchasing an additional 252,983 shares during the last quarter. State Street Corp lifted its stake in International Flavors & Fragrances by 0.8% during the third quarter. State Street Corp now owns 10,971,108 shares of the specialty chemicals company’s stock worth $679,460,000 after purchasing an additional 86,134 shares in the last quarter. First Eagle Investment Management LLC grew its stake 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 in the last quarter. Finally, Invesco Ltd. lifted its stake in International Flavors & Fragrances by 131.3% during the 3rd quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock worth $441,068,000 after acquiring an additional 4,069,075 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Wall Street Analyst Weigh In

IFF has been the topic of a number of recent research reports. Mizuho boosted their price target on shares of International Flavors & Fragrances from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Berenberg Bank lifted their price objective on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a report on Thursday, May 7th. UBS Group increased their target price on shares of International Flavors & Fragrances from $75.00 to $86.00 in a report on Thursday, May 7th. Wells Fargo & Company boosted their price target on shares of International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Finally, Rothschild & Co Redburn reduced their price objective on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.05.

International Flavors & Fragrances Stock Up 4.6%

International Flavors & Fragrances stock opened at $77.64 on Friday. The stock has a market cap of $19.82 billion, a PE ratio of 23.74, a P/E/G ratio of 1.72 and a beta of 0.94. 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 is $74.02 and its two-hundred day moving average is $72.29. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 EPS. On average, sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.56 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg purchased 260,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the purchase, the director directly owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. 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.

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.