International Flavors & Fragrances Inc. $IFF Position Raised by AGF Management Ltd.

AGF Management Ltd. raised its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 23.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,734 shares of the specialty chemicals company’s stock after purchasing an additional 9,120 shares during the quarter. AGF Management Ltd.’s holdings in International Flavors & Fragrances were worth $2,999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of International Flavors & Fragrances by 32.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 111,431 shares of the specialty chemicals company’s stock worth $8,367,000 after acquiring an additional 27,166 shares during the last quarter. Clarkston Capital Partners LLC purchased a new position in International Flavors & Fragrances in the 2nd quarter worth about $11,939,000. Ruffer LLP acquired a new stake in International Flavors & Fragrances during the 3rd quarter worth about $13,552,000. Creative Planning lifted its stake in International Flavors & Fragrances by 347.5% during the second quarter. Creative Planning now owns 85,345 shares of the specialty chemicals company’s stock valued at $6,277,000 after buying an additional 66,273 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of International Flavors & Fragrances by 3.6% in the second quarter. State Street Corp now owns 10,884,974 shares of the specialty chemicals company’s stock worth $804,753,000 after buying an additional 381,593 shares during the period. 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 analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of International Flavors & Fragrances in a report on Monday, December 29th. Wall Street Zen upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday, January 4th. Argus lifted their price target on International Flavors & Fragrances from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Barclays increased their price objective on International Flavors & Fragrances from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Citigroup lifted their target price on International Flavors & Fragrances from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.46.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $74.30 on Thursday. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $86.96. The stock’s 50-day moving average is $68.40 and its two-hundred day moving average is $66.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.87. The firm has a market cap of $19.03 billion, a P/E ratio of -45.86, a PEG ratio of 2.66 and a beta of 1.05.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.02 by $0.03. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.65 billion. International Flavors & Fragrances had a positive return on equity of 8.03% and a negative net margin of 3.72%.The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 EPS. Analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

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.