AIA Group Ltd Makes New Investment in International Flavors & Fragrances Inc. $IFF

AIA Group Ltd acquired a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,166 shares of the specialty chemicals company’s stock, valued at approximately $1,056,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC lifted its holdings 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 valued at $1,344,000 after purchasing an additional 158 shares during the last quarter. Clearstead Advisors LLC increased its holdings in shares of International Flavors & Fragrances by 6.1% in the third quarter. Clearstead Advisors LLC now owns 3,021 shares of the specialty chemicals company’s stock valued at $186,000 after purchasing an additional 173 shares during the period. Parr Mcknight Wealth Management Group LLC increased its holdings in shares of 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 valued at $1,423,000 after purchasing an additional 199 shares during the period. Central Pacific Bank Trust Division grew its position in 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 valued at $671,000 after buying an additional 200 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of International Flavors & Fragrances by 2.3% in the third quarter. Truist Financial Corp now owns 9,090 shares of the specialty chemicals company’s stock valued at $559,000 after acquiring an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analysts Set New Price Targets

IFF has been the subject of several analyst reports. Argus increased their price target 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. Barclays increased their target price on International Flavors & Fragrances from $78.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Berenberg Bank decreased their price target on International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Wall Street Zen upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. Finally, UBS Group boosted their target price on shares of International Flavors & Fragrances from $71.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Thirteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.09.

Insider Transactions at International Flavors & Fragrances

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

International Flavors & Fragrances Stock Down 2.3%

International Flavors & Fragrances stock opened at $66.59 on Friday. The firm’s fifty day moving average price is $74.59 and its two-hundred day moving average price is $68.24. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $84.45. The firm has a market capitalization of $17.01 billion, a price-to-earnings ratio of -48.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33.

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 for the quarter, missing the consensus estimate of $0.85 by ($0.05). The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.52 billion. International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. International Flavors & Fragrances’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. On average, equities research analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

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

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.