CIBC Bancorp USA Inc. Invests $9.63 Million in International Flavors & Fragrances Inc. $IFF

CIBC Bancorp USA Inc. acquired a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 156,428 shares of the specialty chemicals company’s stock, valued at approximately $9,627,000. CIBC Bancorp USA Inc. owned about 0.06% of International Flavors & Fragrances as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Rafferty Asset Management LLC lifted its position in shares of International Flavors & Fragrances by 0.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,837 shares of the specialty chemicals company’s stock worth $1,344,000 after purchasing an additional 158 shares during the period. Clearstead Advisors LLC boosted its position in shares of International Flavors & Fragrances by 6.1% in the 3rd quarter. Clearstead Advisors LLC now owns 3,021 shares of the specialty chemicals company’s stock worth $186,000 after purchasing an additional 173 shares in the last quarter. Parr Mcknight Wealth Management Group LLC boosted its holdings in International Flavors & Fragrances by 0.9% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 23,129 shares of the specialty chemicals company’s stock worth $1,423,000 after acquiring an additional 199 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of International Flavors & Fragrances by 1.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 10,900 shares of the specialty chemicals company’s stock worth $671,000 after purchasing an additional 200 shares during the last quarter. Finally, Truist Financial Corp increased its stake in International Flavors & Fragrances by 2.3% during the 3rd quarter. Truist Financial Corp now owns 9,090 shares of the specialty chemicals company’s stock valued at $559,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Down 2.3%

NYSE IFF opened at $66.59 on Friday. The company has a fifty day simple moving average of $74.59 and a two-hundred day simple moving average of $68.24. 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 $17.01 billion, a P/E ratio of -48.61, a P/E/G ratio of 1.79 and a beta of 0.99.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.52 billion. International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. On average, analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. International Flavors & Fragrances’s dividend payout ratio is presently -116.79%.

Analyst Ratings Changes

IFF has been the subject of a number of recent analyst reports. Argus boosted their price objective on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. UBS Group lifted their target price on International Flavors & Fragrances from $71.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Wells Fargo & Company upped their price target on International Flavors & Fragrances from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Berenberg Bank dropped their price objective on International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on International Flavors & Fragrances from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Thirteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average target price of $90.09.

Insider Activity

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 142,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of $70.13 per share, for a total transaction of $9,958,460.00. Following the transaction, the director directly owned 2,422,730 shares of the company’s stock, valued at approximately $169,906,054.90. This represents a 6.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

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.